| A | B |
|---|
| anticipated expense | consistent expenses that require monthly payments |
| anticipated income | consistent income that is received at regular monthly intervals |
| appreciation | increase in the value of an asset |
| asset | money or other valuables that a person owns |
| budget | a tool for managing money in order to achieve financial goals |
| cash flow | the income and outflow of money over a period of time |
| collateral | an item of value pledged as payment of an unpaid debt |
| collectibles | items of value that people collect and hope will increase in value |
| depreciation | decrease in the value of an asset |
| direct deposit | electronic deposit of a paycheck into a bank account |
| discretionary spending | spending on items beyond the essentials |
| disposable income | money left over after taxes and other deductions |
| expenses | money that is spent |
| fixed costs | anticipated expenses that are the same each month |
| goal | something you would like to accomplish |
| income | monetary compensation for work |
| liabilities | debts, outstanding loans or bills to be paid |
| long-term financial goal | goal that takes more than five years to achieve |
| luxury goods | items that tend to be special and more expensive than their alternatives |
| net worth | total value of assets, minus obligations |
| PYF Pay Yourself First | putting money aside for savings before paying any bills or making purchases |
| Personal Property Inventory | a list of a person's owned property |
| personal wealth | a person's accumulation of assets |
| Short-term financial goal | goal that takes less than a year to achieve |
| unanticipated expense | expenses that are not paid regularly |
| unanticipated income | income that is received in different amounts at different times |
| values | standards used to determine what is important to a person |
| variable costs | expenses that are expected but may vary each month |
| Insolvency | the inability to pay debts when they are due |
| Intermediate goal | takes one to five years to accomplish |
| Budget variance | a difference between the amount budgeted and the amount that is actually spent |
