| A | B |
|---|
| Money Management | Planning how to get the most from your money. |
| Safe-Deposit Box | A small secure storage compartment that you can rent in a bank, usually inexpensive. |
| Personal Financial Statements | Documents that provide information about your current financial position & present summary of your income & spending. |
| Balance Sheet (net worth statement) | Financial statement that lists the items of value that you own, the debts you owe, & your net worth. |
| Assets | Any items of value that you own, including cash, property, personal possessions, & investments. |
| Liquid Assets | Cash & other items that can be quickly converted to cash. |
| Real Estate | Land that a person or family owns, including anything that is on it--house or other building. |
| Market Value | The price at which you could sell a property. |
| Liabilities | The debts that you owe. |
| Insolvency | The condition that occurs when your liabilities are greater than your assets. |
| Cash Flow | The money that goes in and out of your wllet & bank account. |
| Income | Money that you receive. |
| Take Home Pay (net pay) | The amount of income left after taxes and other deductions are taken out of your gross pay. |
| Discretionary Income | The money left over after you have paid the essential bills. |
| Surplus | Extra money that can be spent or saved. |
| Deficit | Occurs if you spend more than you earn or receive. |
| Budget | A plan for using your money in a way that best meets your wants and needs. |
| Consumer Price Index (CPI) | A measure of the changes in prices for commonly purchased goods & services in the United States. |
| Budget Variance | The difference between the budgeted amount & the actual amount you spend. |
| Wealth | An abundance of valuable material possessions or resources. |
