The total amount of an employee's earnings before deductions are taken out.

A financial expression that shows the relationship between a person's debt and net worth. It is calculated by dividing total liabilities by total assets.

Spending for goods and services beyond the essentials like food, shelter, and clothing

An item of value pledged as a guarantee for payment of a loan which can be repossessed by the lender if the loan is not paid back.

The measure of money coming in and money going out over a certain period of time

Money spent on different items.

The standards used to determine what is important to a person.

The idea that you should put money into a savings account as soon as you receive any income and before you pay any expenses or spend any money.

A list of all of one's personal property

Expenses that are not paid every month and cannot always be planned.

Money received for work or other sources such as interest earned, child support, alimony, or dividends from stocks.

A tool for managing money to achieve short and long-term goals

Debts, any outstanding bills or loans that must be repaid

Something that you would like to accomplish

Items that are relatively rare that people collect in hopes that they will increase in value

You owe more than you own.

An increase in the value of an asset

Accumulations of assets by an individual such as money and possessions

Having funds to buy things that require money above what is normally allowed by a budget within a year.

The ease with which an asset can be converted into cash without hurting its value.

Money or other items of value that a person owns

Money left over after taxes and other deductions

The total value of a person's financial assets minus their obligations (liabilities).

The total earnings paid to an employee after payroll taxes and other deductions. Also known as take-home pay.

Expenses that are consistent and require payment around the same time each month

The difference between the budgeted amount and the actual amount that you spend.

Nazar owns more than he owes. He is considered _____.

Major purchases that require time, planning and extensive saving. Usually takes more than 5 years to achieve.

Anticipated expenses that may vary in amount each month

You should save at least ___ percent of your income.

How many months of expenses should you have saved in case of emergencies.

Lee has assets valued at $5,000 and liabilities including student loan debt of $7,000. What is Lee's net worth?

The three standard deductions from a person's pay include, federal taxes, state taxes, and _____.

Elijah budgeted $100 a month for entertainment, but this month he only spent $75. This is considered a _____.

Destiny has assets of $5,000 and owes $7,500.