Term
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Definition
| Money earned---from wages, salaries, tips, withdrawals from savings, interest earnings, scholarships, sales of properties or possessions, gifts, etc. |
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Term
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Definition
| Money spent---for both fixed and flexible expenses; an expenditure |
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Term
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Definition
| An amount of income or expense that is expected, planned, or projected |
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Term
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Definition
| An amount of income or expense that was really earned or spent |
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Term
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Definition
| An expense that is due by a certain date, often agreed upon in a contract, and difficult to change in a short time |
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Term
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Definition
| An expense that is not due by a certain date and is easy to reduce or eliminate |
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Term
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Definition
| A financial goal that states exactly what is to be done with money |
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Term
| Measurable Financial Goal |
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Definition
| A financial goal that gives an exact dollar amount |
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Term
| Attainable Financial Goal |
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Definition
| A financial goal for which one can determine how to reach it |
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Term
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Definition
| A financial goal that is affordable and doable |
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Term
| Time-Bound Financial Goal |
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Definition
| A financial goal that states exactly WHEN the goal needs to be reached |
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Term
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Definition
| Determine appropriate recordkeeping format, select categories and time period |
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Term
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Definition
| Make realistic decisions and estimates for categories of the spending plan |
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Term
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Definition
| Put the spending plan into effect |
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Term
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Definition
| Keep accurate records while the spending plan is being implemented |
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Term
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Definition
| Determine how well the spending plan process has worked |
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Term
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Definition
| Placing exact amount of cash for an expense in a labeled envelope |
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Term
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Definition
| A financial statement used to track expenses from day to day |
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Term
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Definition
| Tracking expenses in a checkbook register divided into spending plan categories |
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