Module 5 - Money Management Vocab Review

A payment method used to electronically deposit your paycheck into your bank account

Something that you would like to accomplish, a target or something at which you can aim

Money spent on different items

An increase in the value of an asset

Income that is consistent and received around the same time each month (Ex: Income from Jobs)

Major purchases that required extensive saving: ex. Home ownership, education, investments

The measure of money coming in & money going out over a certain period of time

Anticipated expenses that are expected but may vary in amount each month

Funds to buy things that require money above what is normally allowed (Ex. Gifts, Date Night, etc.)

Items that are relatively rare that people collect in hopes that they will increase in value (Ex. Stamps, Coins)

The standards used to determine what is important a person

Money received for work; corporate earnings

Money or other items of value that a person owns

In the black; you own more than you owe

A tool for managing money to achieve short & long term goals.

A decrease in the value of an asset

Expenses that are consistent and require payment around the same time each month

Items with special qualities that make them more expensive than alternative products

Spending for goods & services beyond the essentials like food, shelter and clothing

Income that is received in different amounts at different times

Debts; any outstanding bills or loans that must be repaid

Expenses that are not paid every month & cannot always be planned. Ex. car repairs

An item of value pledged as a guarantee for payment (Ex. Car, House, etc.)

The total value of a person's financial assets minus their liabilities

Accumulations of assets by an individual such as money and possessions

The ideal that you shuould remove money for savings purposes as soon as you receive any income

Expenses that are the same each month & require payment around the same time each month (Ex. Car)

In the red; you owe more than you own

A list of all one's personal property

Money left over after taxes and other deductions