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Chapter 3 B&PF vocab

This game will help you understand the vocabulary for chapter 3

AB
Money ManagementPlanning how to get the most from your money
Safe-Deposit- BoxA small secure storage compartment that you can rent in a bank
Personal Financial StatementA financial statement that lists items of value owned, debts owed, and a person’s net worth
Net WorthThe difference between the amount that you own and the debts that you owe
AssetsAny items of value that an individual or company owns, including cash, property, personal possessions, and investments
WealthAn abundance of valuable material possessions or resources
Liquid AssetsCash and items that can be quickly converted to cash
Real EstateLand and any structures that are on it, such as a house or any other buildings that a person or family owns
Market ValueThe price at which property would sell
LiabilitiesThe debts that you owe
InsolvencyA financial state that occurs if liabilities are greater than assets
Cash FlowMoney that actually goes into and out of your wallet and bank accounts
IncomeYour cash inflow or money that you receive
Take-Home PayThe amount of income left after taxes and other deductions are taken out of your gross pay
Discretionary- IncomeThe money left over after paying for the essentials, such as food, clothing, shelter, transportation, and medication.
SurplusExtra money that can be spent or saved, depending on a person’s financial goals and values
DeficitThe financial situation that occurs when more money is spent than is earned or received
BudgetA plan for using money to meet wants and needs
Consumer Price Index (CPI)A measure of the changes in prices of commonly purchased goods and services in the United States
Budget VarianceThe difference between the budgeted amount and the actual amount that you spend


Computer Applications and Business Instructor
Ansbach Middle/High School
APO, AE

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