Personal Finance: An Overview

Summary of amount of money received and money spent over a specific period.

The difference between what a person owns and what he owes.

A set cost that must be paid each budgeted period.

Refers to the statistical characteristics of a population.

Giving money, goods, or services for the good of others.

A good savings program and adequate insurance is the basis for financial security.

Two long-term financial responsibilities could be;

Examples of fixed expenses are:

Process of setting up an organized system for finances.

Which of the following is not a stage in the family life cycle.

Spending plan made for a specific period of time.

Summary of income and expenses paid during a specific period.

Two of the greatest expenses during the aging stage.

A cost that varies in both the amount and the time it must be paid.

The last step in setting up a budget is:

Online personal finance software can be very helpful in money management.

Income can be from:

Which of the following is not a financial concern during the beginning stage?

Which of the following is not a characteristic of the aging stage.

Each stage of the family life cycle comes with the same financial expenses.

An abundance of assets accumulated over time.

The understanding of basic knowledge and skills needed to manage finances.

A written record of a person's current financial situation.