Budgeting Flashcards

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Budget

Back

Itemized summary of the expected income and expenses for a defined period of time

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Budgeting

Back

Process of creating a plan to spend and save money

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Assets

Back

Individual’s belongings which have value

Front

Liabilities

Back

Individual’s expenses and outstanding debts

Front

Short-Term Goals

Back

Goals set to be achieved in less than a year of time

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Intermediate-Term Goals

Back

Goals set to be achieved in about five to 10 years

Front

Long-Term Goals

Back

Goals set to be achieved in about 10 or more years

Front

Money Personalities

Back

Categories in which people can be put based off of their spending and saving habits

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Saver

Back

Individual who likes to save money rather than spend money

Front

Spender

Back

Individual who enjoys spending money on himself/herself or others