Personal Finance Basics Vocabulary

Front

A valuable resource that is owned by a person, company, or government in order to get an economic benefit.

Back

Asset

Front

A plan of your expected income and how you will use it to meet your expected expenses over a period of time

Back

Budget

Front

Expenses that are essential for you to be able to live and function

Back

Needs

Front

To sign the back of a check made out to you so it can be cashed or deposited

Back

Endorse

Front

A fee paid to you for keeping your money in an account OR a fee charged to you for a loan or credit card

Back

Interest

Front

To compare your bank's monthly account statement with your own records of activity for the same account

Back

Reconcile

Front

Money you put into your account

Back

Deposit

Front

A set amount you are paid for every hour that you work; also called hourly pay

Back

Wage

Front

Expenses that help you live more comfortably

Back

Wants

Front

A sum of money deducted FROM your account

Back

Debit