everything a person owns with monetary value
Electronic Spending Plan System
A control system that utilizes some type of electronic software
A control system where an individual places the actual budgeted amount of cash into the specific envelope labeled for the expense
Specific objectives to be accomplished through financial planning.
Check Register System
A control system where expenses are tracked in a checkbook register which has been divided into spending plan categories
A tool used to achieve financial success based upon the development and implementation of financial goals.
Expenses that often have a fixed amount due each month, may be contractual, and are not easy to reduce or eliminate
Expenses that vary each month in the amount owed, are not contractual, and do not have to be paid by a certain date
The end result of something a person intends to acquire, achieve, do, reach, or accomplish
The total amount of money earned during a pay period before payroll deductions
An arrangement between an individual and an insurance company to protect the individual against risk
Debts or what is owed to others
A essential item required for life
The positive amount of money remaining after subtracting expenses from income
The negative amount of money after subtracting expenses from income
the amount of money left when liabilities are subtracted from assets
The amount of an individual's take-home pay after taxes and other deductions have been taken out
Net Worth Statement
A financial statement that describes an individual or family's financial condition on a specified date
The portion of current income not spent on consumption.
A paper or electronic document used to record both planned and actual income through expenditures over a period of time.
Citizen Charges by local, state, and federal governments
a fundamental belief or practice about what is desirable, worthwhile, and important to an individual
somethingunnecessary, but desired
measurement of how much a person or household owns once all debts have been paid