The process of forecasting future expenses and income.

The amount of a specific asset that we own after subtracting any liabilities.

Money coming in through wages earned, an allowance, or other sources.

"Rent" on money you borrow.

What we owe, or our debt

How much readily available cash you have on hand for meeting immediate wants and needs.

The difference between assets and liability

Specifying financial goals, and describing in detail the spending, financing, and investing plans needed to reach those goals.