Shared Flashcard Set

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Sim 3/Chp 1 Saving
Saving terms.
20
Business
10th Grade
01/18/2012

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Cards

Term
Budget
Definition
An itemized summary of probable expenditures and income for a given period of time.
Term
Deficit
Definition
The amount by which expenditures exceed income.
Term
Expenditure
Definition
An amount of money spent.
Term
Fixed Expense
Definition
An unchanging expenditure.
Term
Flexible Expense
Definition
An expenditure that varies.
Term
Income
Definition
Amount of money recieved.
Term
Savings
Definition
Money that is not spent.
Term
Surplus
Definition
The amount of money remaining after all expenses are met.
Term
Take-Home Pay
Definition
Money recieved after all adjustments and deductions are made.
Term
Unexpected Expense
Definition
An unforeseen cost.
Term
Amoral
Definition
This is a object or idea that has no bias to good or bad.
Term
Baby Steps
Definition
A set of guidelines that can be followed to gain wealth.
Term
Compound Interest
Definition
What happens when interest stacks over time and is a effective way of investing.
Term
Emergency Fund
Definition
A amount of money or other source of cash to pay for things during a crises situation.
Term
Interest Rate
Definition
The amount of money gained with interest.
Term
Money Market
Definition
A place to put your money where they do not charge you when you withdraw it. (Good place for emergency fund.)
Term
Murphey's Law
Definition
A idea of thinking if something can go wrong it will go wrong.
Term
Pre-authorized Checking
Definition
A way to build discipline and money smarts.
Term
Priority
Definition
Something that takes place above all other tasks or goals, it is important to know what is important.
Term
Sinking Fund
Definition
A fund reserved to pay debt.
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