| A | B |
|---|
| Current Liabilities | Debt that can be repaid within one year. |
| Forecast Error | Expenses and Income do not happen that was planned earlier in a budget. |
| Long-term Liabilities | Debts that will take longer than one year to repay. |
| Real Estate | Property (Land, Building & Homes) |
| Household Assets | Personal checking accounts, savings accounts, CD's & belongings in your home. |
| Market Value | What property can be sold for on the open market. |
| Investment | the investing of money or capital in order to gain profitable returns, as interest, income, or appreciation in value. |
| Budget | an estimate, often itemized, of expected income and expense for a given period in the future. |
| Want | Desired, not necessarily NEEDED |
| S = SMART Goal | Specific |
| M = SMART GOAL | Measureable |
| A = SMART GOAL | Attainable |
| R = SMART GOAL | Realistic |
| T = SMART GOAL | Time Bound |
| Flexible Expense | Expense that the amount changes each month |
| Fixed Expense | Expense that is the same amount every month (ex - rent) |
| Income | Money earned, gifts or allowance |
