Managing Finances

The amount of money you pay regularly (usually monthly or annually) to your insurance company to maintain your insurance coverage.

• Premium

• Fixed Expense

The money you earn.

• Income

• Premium

Expenses within your budget that change from month to month

• Variable Expense

• Deductable

Expenses in your budget that you can expect to stay the same over time.

• Fixed Expense

• Insurance

An agreement where an individual pays a sum of money in exchange for financial compensation in the event of a loss, damage, illness, or death

• Variable Expense

• Insurance

A tool an individual uses to determine the state of their finances and help them plan spending over a period of time.

• Debt

• Budget

The specific amount of money you must pay out of your pocket before your insurance starts covering the remaining costs

• Budget

• Deductible