Personal Finance Vocabulary

Front

Card that allows you to buy goods & services that you will pay for later

Back

Credit Card

Front

A document from your bank that details all of your monthly transactions

Back

Bank Statement

Front

Something you own that has value and the ability to increase in value.

Back

Asset

Front

Something you own that loses value and takes money out of your pocket.

Back

Liability

Front

A sum of money used for a particular purpose

Back

Budget

Front

When withdrawals have gone over the available amount.

Back

Overdraft

Front

Card that takes money directly from your checking account.

Back

Debit Card

Front

A check that is dishonored by the bank because there is not enough money in the account (insufficient funds).

Back

Bad Check

Front

Example of fixed expense: Credit card bill, Gas for your car, House payment, Medical bill

Back

House payment

Front

Example of variable expense: Credit card bill, Car Payment, House payment, Car Insurance

Back

Credit card bill