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Making Smart Decisions

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Term
Definition
Budget   show
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Income   show
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show The cost of goods and services you buy  
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show A set amount that must be paid each budget period  
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Variable Expense   show
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Discretionary Expense   show
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show The act of giving money, goods, services, to meet the needs of others and support organizations and causes that are important to you  
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show A summary of the amount of money received and the amount paid for goods and services during a specific period  
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show A written record of an individual's current financial situation  
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show The difference between what you own and what you owe  
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Asset   show
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show A current or future financial obligation *Include unpaid bills, credit cards charges, mortgages, personal loans, and taxes* Divided into Current liabilities & Long-term liabilities  
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Wealth   show
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Recordkeeping   show
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Legal Document   show
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Money Management Software   show
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Written Roomate Agreement   show
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show The stages a family passes through over its lifetime  
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Stages in the Life Cycle   show
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Variations in the Life Cycle   show
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show A major problem that changes the future of the family and its lifestyle  
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Created by: Jakea Harris
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