Unit 6 Quest For Success

An estimate of income and expenditure for a set period of time

• Budget

• Cash Flow

• Expense

the process of comparing the price of different products or services

• Income

• Depreciation

• Cost Comparison

a person who purchases goods and services for personal use

• Consumer

• Financial Advisor

have a desire to possess or do (something) or wish for

• Needs

• Wants

• Inflation

the loss of potential gain from other alternatives when one alternative is chosen

• Opportunity Cost

• Variable Expense

• Property Tax

an individual's income after taking taxes and deductions into account

• Net pay

• Purchasing Power

• Net income

a federal insurance program that provides benefits to retired people and those who are unemployed or disabled

• Social Security

• Sales Tax

• Variable Expense

the federal health insurance program for people who are 65 or older; certain younger people with disabilities

• Social Security

• Medicare

expenses that can change depending on your use of products or services; they are somewhat unpredictable

• Variable Expense

• Sales Tex

• Inflation

a reduction in the value of an asset with the passage of time

• Depreciation

• Creditworthy

• cost comparison