A plan for how you will spend your money
Internet resource that keeps track of your money (primarily how it is spent)
Personal Financial Planning
Arranging how you will spend, save, and invest your money
Contain assets (liquid and non-liquid) and liabilities (current and long term)
Cash Flow Statement
Contains income, expenses (fixed and variable) surplus, and deficit
What you have left over at the end of each month after you have paid neccessary expenses and taxes
Assets - Liabilities
Expenses that change from month to month
Your wealth; liquid: cash, money in savings and checking accounts; non-liquid: property and possessions
Debts that you owe; current: pay in 1 year; long term: over 1 year to pay off
An easy access savings account to pay for unexpected expenses and emergencies
Wealth; cash, money in savings and checking accounts
Chapter 7 Bankruptcy
Assets sold off to pay creditors most (not all) debts are "written off"
Chapter 13 Bankruptcy
Most assets kept but plan to use income to pay debts is mandated by court (most debt is paid over a long period of time)
Please allow access to your computer’s microphone to use Voice Recording.
We can’t access your microphone!
Click the icon above to update your browser permissions and try again
Reload the page to try again!
Press Cmd-0 to reset your zoom
Press Ctrl-0 to reset your zoom
It looks like your browser might be zoomed in or out. Your browser needs to be zoomed to a normal size to record audio.
Your microphone is muted
For help fixing this issue, see this FAQ.