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15 terms

Chaper 7

money in review
STUDY
PLAY
active
money is very active..it is always moving and can be utilized in many ways
ATM card
automated teller card which allows you to make transactions in automated teller machines
budget
casho flow plan; assigns every dollar to a specific category/expense at the beginning of each month
carbon checks
...
currency
money
debit card
type of card, money comes directly out of a checking account; also called check card
discipline
self control used in directing behavior; the key to wealth building is being consistent over time
envelope system
used to store cash for planned monthly expense
hoarding
...
impulse purchase
to buy an item without thinking about it
persistent
...
pro-active
to have a strong initiative; when one happens "to" things
procrastinate
to put off until later; waiting until the last minute`
reconcile
to match your bank statement with your checkbook, preferably within 72 hours of receiving the statement.
zero-based budget
cash flow plan that assigns an expense to every dollar of one's income, wherein the total income minus the total expenses equals zero