budgeting vocabulary 1

what is the definition of Liquid Assets

• the money that actually goes in and out of your wallet/ bank accounts

• cash and items that can be quickly converted to cash

• include retirement accounts and securities such as stocks and bonds

what is the definition of Liabilities

• the debts that you owe

• a plan for using money to meet wants and needs Income cash

• the money that actually goes in and out of your wallet/ bank accounts

land and any structures that are on it, such as a house or other building that a person or family owns

• Budget

• Investment Assets

• Real Estate

what is the definition of Cash Flow

• include retirement accounts and securities such as stocks and bonds

• a plan for using money to meet wants and needs Income cash

• the money that actually goes in and out of your wallet/ bank accounts

(the money that you receive)

• Personal Financial Statement

• inflow

• Investment Assets

include retirement accounts and securities such as stocks and bonds

• Investment Assets

• Budget

• Cash Flow

what is the definition of Budget

• a document that provides information about an individual's current financial position and presents a summary of income and spending

• a plan for using money to meet wants and needs Income cash

• the difference between the amount that you own and the debts that you owe

the difference between the amount that you own and the debts that you owe

• Budget

• Cash Flow

• Net Worth

what is the definition of Personal Financial Statement

• a plan for using money to meet wants and needs Income cash

• a document that provides information about an individual's current financial position and presents a summary of income and spending

• the difference between the amount that you own and the debts that you owe