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Definition
| A process of tracking and anticipating income and expenditures |
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| A specific aim to be accomplished with the use of financial planning |
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| Occurring in a cycle, with steps repeated in sequence over and over |
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Definition
| Having a large amount of money or property |
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| Living Within One's Means |
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Definition
| Being able to pay all expenses with available income |
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| A document or tool that shows personal financial information/data |
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Definition
| A financial statement that shows the assets, liabilities, and net worth of an individual or family on a set date |
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Definition
| Anything with monetary value that a person owns |
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| Anything that is owed to someone else; a debt |
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Definition
| The amount of money remaining when total liabilities are subtracted from total assets |
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| Income & Expense Statement |
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Definition
| A financial statement that shows all income and expenses of an individual or family during a specific time period, usually a month or a year |
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Definition
| The income and expenses of an individual or family during a time period |
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Definition
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| Any expenditure; anything that costs money |
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| The amount of money one has after subtracting expenses from income |
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Definition
| The amount of additional money needed when expenses are greater than income |
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Term
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Definition
| A financial statement used to plan income and expenses for a future time period; also known as a budget or financial plan |
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