Shared Flashcard Set

Details

Vocabulary
8.03
15
Finance
12th Grade
02/13/2012

Additional Finance Flashcards

 


 

Cards

Term
financial planning
Definition
a process of tracking and anticipating income and expenditures
Term
spending plan
Definition
a financial statement used to plan income and expenses for a future time period; also known as a budget or financial plan
Term
expense
Definition
any expenditure; anything that costs money
Term
fixed expense
Definition
an expense that is due by a certain date, often agreed upon in a contract, and difficult to change in a short time
Term
flexible expense
Definition
an expense that is not due by a certain date and is easy to reduce or eliminate
Term
wages
Definition
wages from a job
Term
savings
Definition
fixed expenses
Term
utilities
Definition
electricity, water, and garbage fees
Term
home/renter insurance
Definition
purchased to protect the home and possessions inside from loss
Term
property taxes
Definition
paid by the owner of the home
Term
net loss
Definition
the amount of additional money needed when expenses are greater than income
Term
net gain
Definition
the amount of money one has after subtracting expenses from income
Term
net income
Definition
take home pay
Term
gross income
Definition
total amount of money earned during a pay period
Term
payroll deductions
Definition
taxes, retirement, and health beneifts
Supporting users have an ad free experience!