| A | B |
|---|
| net worth | the difference between the monetary values of a consumer's assets and liabilities |
| gross pay | an employees pay before any deductions are taken |
| netpay | the amount that remains after all deductions are taken from the gross pay |
| taxable income | the total amount of income minus qualifying deductions |
| budget | a plan to help you reach your financial goals |
| income | money that is paid to a person for goods, services or investments |
| planned savings | money that is not spent by consumer currently, but is reserved for |
| fixed expenses | expenses that occur regularly and stay the same |
| variable expense | expenses that occur regularly but may change because the consumer has some control over the amount |
| assets | items a person owns with monetary value |
| liabilities | money a person owes |
