| A | B |
|---|
| Anticipated Expense | Expenses that are consistent and require payment around the same time each month. |
| Anticipated Income | Income that is consistent and is typically received around the same time each month; examples include from allowances, jobs, scholarships, or educational grants. |
| Appreciation | An increase in the value of an asset. |
| Asset | Money or other items of value that a person owns. |
| Budget | A tool for managing money to achieve short- and long-term goals; a budget includes a list of all types of income and expenses over the course of a time period, usually a month. |
| Cash Flow | The measure of money coming in and money going out over a certain period of time. |
| Collateral | An item of value pledged as a guarantee for payment of a loan which can be repossessed by the lender if the loan is not paid back. |
| Collectibles | Items that are relatively rare that people collect in hopes that they will increase in value. |
| Depreciation | The decrease in value of an asset. |
| Direct Deposit | A payment method used to electronically deposit your paycheck into your bank account. |
| Discretionary Spending | Spending for goods and services beyond the essentials like food, shelter, and clothing. |
| Disposable Income | Money left over after taxes and other deductions. |
| Expenses | Money spent on different items. |
| Fixed Costs | Anticipated expenses that are the same each month and usually require payment around the same time each month; examples include house payments, rent payments and car payments. |
| Goal | Something that you would like to accomplish; a target or something at which you can claim. |
| Income | Money received for work; corporate earnings. |
| Liabilities | Debts, any outstanding bills or loans that must be repaid. |
| Long-Term Financial Goal | Major purchases that require extensive saving; examples include home ownership, education, retirement, and investments. |
| Luxury Goods | Items with special qualities that make them more expensive than alternative products. |
| Net Worth | The total value of a person’s financial assets minus their obligations. |
| Pay Yourself First | The idea that you should remove money for saving purposes as soon as you receive any income. |
| Personal Property Inventory | A list of all of one’s personal property. |
| Personal Wealth | Accumulations of assets by an individual such as money and possessions. |
| Short-Term Financial Goal | Having funds to buy things that require money above what is normally allowed by a budget; examples include emergencies, vacations, social events, automobile and home repairs, gifts. |
| Unanticipated Expense | Expenses that are not paid every month and cannot always be planned; examples include car repairs, medical bills, loss from theft, and loss from natural disasters. |
| Unanticipated Income | Income that is received in different amounts at different times; examples include birthday money, tips, bonuses, and interest on savings. |
| Values | The standards used to determine what is important or important to a person. |
| Variable Costs | Anticipated expenses that are expected, but may vary in amount each month; examples include video rentals, restaurant meals and sports activities. |
