Definitions
Principles and beliefs that a person considers important.
What is value?
This financial tool helps you stay out of debt, pay bills on time, and build a savings account.
What is a budget?
These numbers and details should be recorded and stored securely for both savings and checking accounts.
What are account numbers, account holder names, and the name of the financial institution?
These legal documents, such as wills and trusts, outline how your assets and affairs should be handled if you die or become incapacitated.
What are estate planning documents?
This type of software helps users organize daily finances, track income and expenses, and manage investments.
What is money management software?
Moral principles or beliefs that direct a person’s behavior.
What is ethics?
Budgeting can help you achieve this long-term goal, such as owning a car or living in your own house.
What is financial independence?
These sensitive codes are used for accessing ATMs and online banking, and should be kept confidential.
What are PINs and passwords?
Items like birth certificates, Social Security cards, and medical records fall under this category and should be stored securely.
What is personal information?
One of the key features of money management software is the ability to create and customize this financial plan to suit personal needs.
What is a budget?
A value or goal that is given more importance than other values and goals.
What is priorities?
Along with saving money and paying bills, budgeting can also help you finance this major life investment.
What is your education?
In case of a lost credit card, these details can help you act quickly to protect your account.
What are the credit card number, issuer’s name, expiration date, authorized users, and contact number?
These records, including Form W-2s and income tax returns, are essential for financial tracking and must be kept for several years.
What are tax records?
This type of statement, created by money management software, shows how money flows in and out of your accounts.
What is a cash flow statement?
An established measure of quality, value, or quantity. The word “standard” is used in many ways.
What is standard?
According to personal finance advice, starting this process today can help you build the future you want tomorrow.
What is budgeting?
Along with paycheck stubs, these income sources should be recorded for financial tracking and tax purposes.
What are interest statements, dividend records, cash gifts, tips, and bonuses?
These documents detail ownership of things like homes and vehicles, and include deeds, titles, and mortgage papers.
What are property records?
Money management software can categorize expenses and help users evaluate these habits.
What are spending patterns?
Financial Planning Basics
What are two categories of expenses distinguished by whether they are essential for survival or simply desired for comfort or enjoyment?
Managing personal finances with a budget can help you avoid this common financial pitfall.
What is going into debt?
This type of financial document helps you track your income and expenses, and should be kept regularly.
What are financial records?
These are written agreements that can be enforced in court, such as credit card contracts or auto loans.
What are legal documents?
In addition to tracking transactions and managing budgets, some money management programs also help users do this during tax season.
What is prepare and file income tax returns?