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Java Games: Flashcards, matching, concentration, and word search. |
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| Money Management | Refers to the day-to-day financial activities associated with using limited income to satisfy your unlimited wants and needs. It involves getting the most for your money through careful planning, saving, and spending. |
| Assets | Items of value that you own…money, investments, furniture, clothing, automobiles, rare coins, houses, jewelry, etc |
| Liabilities | Amount you owe to others…credit card balance, car loans, house mortgages, or personal loans, etc |
| Net Worth | The difference between a person’s assets and liabilities…it would be the amount of money you would have if you sold all of your assets at fair prices and all debts were paid off |
| Personal Cash Flow Statement | reports net wages and other income along with spending (expenses) for a period of time |
| Cash Inflows | money that you have available to spend as a result of working or from other income, such as interest earned on your savings |
| Cash Outflows | expenditures such as rent, food, clothing, transportation, and other living expenses |
| Personal Balance Sheet | shows your financial condition...it shows an individual's assets, liabilities, and net worth |
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