Finance 1
Anything that is owned by an individual with respect to saving and investing. Generally categorized as liquid (cash) and capital (investment).
What is Assets
Expenses that increase or decrease?
What is "Variable Expenses"
Process of analyzing exposure to risk and determining the best way to handle such exposure?
What is "Risk Management"
The money you have to spend or save as you wish after taxes, social security, and other required and optional deductions have been withheld from your gross pay?
What is "Disposable Income"
A situation where income and expenses are equal?
What is "Balanced Budget"
An organized plan for saving and spending based on your expected income and expenses?
What is Budget
A situation where money is left over after all obligations have been paid?
What is "Budget Surplus"
The ways in which a person typically uses money?
What is "Spending Habits"
A plan of action that allows a person to meet not only the immediate needs but also the long term goals?
What is "Financial Plan"
Checking several alternatives to find the best product at the best price?
What is "Comparison Shop"
An amount of money set aside to cover bills in case of an emergency?
What is "Emergency Fund"
The Process of setting money aside to increase wealth over time and accumulate funds for long term financial goals such as retirement?
What is "Investing"
Typically used to measure the health of a business, it calculates income minus expenses?
What is "Cash Flow"
The things people pay for with their money?
What is "Expenses"
Expenses that remain the same each month?
What is "Fixed Expenses"
Expenditures that change each month and can be reduced or eliminated if necessary?
What is "Flexible Expenses"
The process of setting aside money until a future dat instead of spending it today.
What is "Savings
Making purchases without comparing costs or benefits beforehand?
What is "Impulse Spending"
Money earned in exchanged for work, or received from benefits, allowance, or gifts?
What is Income"
The total value of a person or company, which can be calculated by subtracting liabilities from total assets?
What is "Net Worth"
Money owed to individuals, businesses, or institutions?
What is "Liabilities"
A situation where there is not enough to cover expenses,
What is :Budget Deficit"
To write down information about a transaction or a series of transactions?
What is "Record Keeping"
A fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, made by an employer to an employee, especially a professional or white-collar worker?
What is "Salary"
Using a portion of income to make charitable contributions?
What is "Sharing"