PF Ch. 6

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

A spending plan for the use of money over time based on goals and expected income.

A set cost that must be paid each budget period.

The difference between what a person owns and owes.

The process of setting up and maintaining an organized system for your financial affairs.

Any form of money a person receives from various sources.

The understanding of the basic knowledge and skills needed to manage financial resources.

The statistical characteristics of the population.

The act of giving money, goods, or services for the good of others.

A major problem that impacts the future of the family and its lifestyle.

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

A financial obligation that a person currently owes or will owe in the future.

An abundance of assets that are accumulated over time.

A summary of the amount of money received as well as the amount paid out for goods and services during a specific period

The cost of a good or service a person buys.

The stages of change a family passes through from formation to aging.