Financial Terms and Concepts

Front

Occasional Essentials

Back

Not a commonly recognized type of expense.

Front

Fixed Needs

Back

Expenses that are consistent and remain the same or nearly the same each month.

Front

Variable Wants

Back

Items that you would like to have but aren't required.

Front

Fixed Wants

Back

An expense that is both fixed and a want, meaning it costs the same amount each month and is something you would like to have but don't need.

Front

Pay yourself first

Back

Only spending money on wants.

Front

Emergency Fund

Back

Money set aside for large, unexpected expenses.

Front

Checks

Back

Traceable and provide a record of payment.

Front

Debit Card

Back

A payment card that deducts money directly from your checking account.

Front

ATM Card

Back

Allows you to access your bank account and perform financial transactions at an ATM.

Front

Compound Interest

Back

Interest that is earned on both the principal amount and the interest that has already accumulated. Interest on interest.