Personal Finance: Section 4.1 & 4.2 Vocabulary #2

Items that are very costly, often filling emotional wants rather than physical needs

(a)  

Things people desire for reasons beyond survival and basic comfort

(a)  

Amount of money a person has to spend after needs are met

(a)  

Expenses, or items for which you must spend money

(a)  

Result when cash outflows exceed cash inflows

(a)  

Assets that grow in value are said to

(a)  

Money and items of value that you own

(a)  

Costs that do not change each month

(a)  

A budgeting method that allocates 50% to needs, 30% to wants, and 20% to savings and debt repayment

(a)  

Budgeting method where money for monthly spending is taken out in cash and placed in labeled envelopes according to budget categories.

(a)