Shared Flashcard Set

Details

Chapter 1 - Savings
Chapter 1 - Savings
14
Business
12th Grade
08/28/2012

Additional Business Flashcards

 


 

Cards

Term
Baby Steps
Definition
the 7 steps to a healthy financial plan
Term
Compound Interest
Definition
interest paid on interest previously earned; credited daily, monthly, quarterly, semi-annually on both principal and previously credited interest
Term
Emergency Fund
Definition
3 to 6 months of expenses in readily available cash to be used inly in the event of an emergency
Term
Sinking Fund
Definition
saving money for a specific purpose to allow interest to work for you rather than against you
Term
Budget
Definition
an itemized summary of probable expenditures and income for a given period
Term
Deficit
Definition
the amount by which expenditures exceed income
Term
Expenditure
Definition
the amount of money spent
Term
Fixed Expense
Definition
an unchanging expenditure
Term
Flexible Expense
Definition
an expenditure that varies
Term
Income
Definition
money received
Term
Savings
Definition
money that is not spent
Term
Surplus
Definition
an amount of money remaining after all expenses have been met
Term
Take-Home Pay
Definition
money received after all adjustments and deductions are made
Term
Unexpected Expense
Definition
an unforseen cost
Supporting users have an ad free experience!