Setting Goals
Taking the time to identify what is important to you
What is a goal?
Locating your financial resources
What is tracking?
A financial tool to regulate and monitor your spending and saving.
What is a budget?
Ideally you should save how much of your gross income?
What is 12%
A loan payment is considered
What is an expense?
A popular way to describe how to reach objectives
What is SMART?
A document showing the amount of money earned and money spent
What is an income expense statement?
All resources that can be spent or saved such as wages and commissions.
What is income?
Student loans on a balance sheet are called
What is a liability?
If you are a college student your budget monthly budget might
What is vacillate between surplus and deficit?
Consider value and feasibility by considering
What is risks and rewards
It includes income, expenses, withdrawls, loan proceeds and transfers of money.
What is a cash flow statement?
Income before taxes and deductions
What is gross income?
Indicates your expenses exceed your budget
What is a deficit?
The value of a car
What is an asset?
Considering the opportunities and obstacles to reach a goal
What is mental contrasting?
Using a computer spreadsheet helps with
What is tracking?
This measures your assets, liabilities, and net worth at a point in time
What is a balance sheet?
Expenses include
What is everything?
Identify the specific cause of spending more whether it is a long-term event or
What is one time event?
"Used correctly, a budget doesn’t restrict you; it empowers you."
Who is Tere Stouffer
They will combine your electronic spending from multiple accounts automatically.
What is Mint.com?
Money left over after all expenses
What is a surplus?
The three sections of a budget
What is income, expenses and surplus (deficit) estimate
Borrowing money to make your budget balance
What is an easy short-term fix?