personal finance Word Scramble
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| Term | Definition |
| Market value | The price at which property could be sold |
| Personal financial statements | Documents that provide information about your current financial position and present a summary of your income and spending |
| Surplus | Extra money that can be spent or saved |
| Net worth | The difference between the amount you own and the debts you owe. This also goes up when you pay off previous debts. |
| deficit | The situation that occurs if a person spends more money than he or she receives. |
| Money management | The method of planning how to get the most from you money |
| Current liability | The debts that you owe |
| Liquid assets | Cash and items that can be quickly converted to cash. |
| Discretionary income | The money left over after essentials are paid for. |
| Safe-deposit box | A small, secure storage compartment that can be rented in a bank- can sometimes cost $100 to rent. |
| Cash flow statement | This shows important feedback on your incomes and spending patterns. |
| Liabilities | An example of this would be taxes. |
| Variable expense | An example of this would be an electric bill |
| Setting goals | This is the first step in planning a budget. |
| A deficit is when more money is spent than is earned or received. | TRUE |
| A home fire safe-box is a good way to protect an important document from theft. | TRUE |
| A measure of the changes in prices for commercially purchased goods and services is called the consumer price index. | TRUE |
| A telephone bill is a liability. | TRUE |
| Insolvency happens when the total of your liabilities is greater than your assets. | TRUE |
| Real estate is an example of a liquid asset. | TRUE |
| Take home pay is equal to your salary. | FALSE |
| The title to your car is an example of a personal financial document. | TRUE |
| The total of your fixed and variable expenses is your cash flow. | TRUE |
| You should include bonuses you might get at work when you estimate your income. | FALSE |
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auweb921
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