Budgeting
Something owed to another person or entity.
What is debt.
A person with this, believes that their abilities can be developed through effort and hard work.
What is a Growth Mindset?
Principal or standard; the accepted principal or value of an individual
What is value?
The ability to make financially responsible decisions integral to everyday life
What is Financial Literacy
A public sale in which property or items of merchandise are sold to the highest bidder.
What is an auction?
This is your total income before taxes etc taken out
What is Gross Income
This is how you think about money and your attitude towards earning and having money.
What is a Money Mindset?
The scale of which you hold important in your life.
What is value system?
Obtain money in return for labor or services
What is "Earn"?
This is not a money diet, it is a money recipe.
What is a budget?
This is your total income after taxes are taken out.
What is Net Income?
The fact or condition of knowing something with familiarity gained through experience or association
What is knowledge?
It is better to find a profession that also matches this.
What is your passion?
The largest stock market in the world.
What is the New York Stock Exchange (NYSE)?
Commonly referred to as debt that helps you increase your net worth, improve your financial situation, and/or enhance your long-term learning potential.
What is Good Debt?
Costs that don't change from period to period, such as rent, loan payments, etc.
What are Fixed Expenses?
Pay yourself first.
What is saving a percentage or set amount of your income every paycheck before you spend?
The method of earning interest on both your initial principal (the original sum of money) and on the accumulated interest from previous periods. Often referred to as "interest on interest"
What is Compound Interest?
If this is low, and the other is high, then prices rise.
What is Supply And Demand.
The 50/30/20 Rule
What is budgeting 50% of your income on needs, 30 percent on wants, and 20% on savings or debt?
Determined by wants and are expenses that you can control. Sometimes referred to as wants not needs.
What are Discretionary Expenses.
Getting to a point of financial success will be difficult. These difficulties might impede our path in attaining financial stability.
What are obstacles?
Representing one’s true nature or beliefs; true to oneself or to the person identified
What is Authenticity?
Similar to an auction, the stock market aims to find the "fair value" where the most buyers and sellers agree to trade.
What is Price Discovery?
When you subtract this from your Total Income, you can see your Total Cash Flow.
What is Total Expenses?