The basic services your home, apartment, or business needs to keep it comfortable and functioning properly (e.g. water, electricity, etc.)

A form of property insurance that covers losses to personal property and protects the insured person from liability claims

A strategy where you save a specified amount of your paycheck before doing anything with the rest of your money

Any items subtracted from your paycheck, including state and federal income taxes, Social Security, health insurance or 401(k) contributions

A portion of the total cost of an item, such as a car or house, that must be paid at the time of purchase. The buyer will often take out a loan to finance the remaining balance.

A fixed amount that you are paid over a period of time, regardless of how many hours you work

Total earnings after payroll taxes and other deductions have been taken out; also called take-home pay

A plan of your expected income and how you will use it to meet your expected expenses over a period of time

A set amount you are paid for every hour that you work; also called hourly pay

A budgeting method where money for monthly spending is taken out in cash and placed in labeled envelopes according to budget categories. Spending occurs only from the corresponding envelopes.

A measurement of your assets (money you've saved or things of value you own) minus your liabilities (money you owe others); also called net worth

A budgeting method where every anticipated earning is assigned a role to be spent, saved, or invested somewhere, so there's no 'leftover' money with no purpose

The amount of money needed to sustain a certain level of living, including basic expenses such as housing, food, taxes, and healthcare; often used when comparing how expensive it is to live in one city versus another

The cost for one item or measurement that allows it to be easily compared to other similar products to evaluate which is a better deal

Items or services you pay for such as rent, groceries, entertainment, bills, etc.

When your income exceeds your expenses and you have money leftover

A contract between a tenant and a landlord providing the terms and costs for renting the property

Total earnings before any deductions are taken

When your expenses exceed your income