Budgeting Review

The ability to meet essential needs without taking on more debt than you can repay.

~Being able to manage financial resources.

• Budget

• Financial Security

A spending plan for the use of money over time based on goals and expected income. 

• Budget

• pyf

A summary of the amount of money received as well as the amount paid out for goods and services during a specific period.

Back

• Cash flow statement

• pyf

Major problem that impacts the future of the family and its lifestyle

• family crisis

• cash flow statement

The cost of a good or a service a person buys or pays for

• asset

• expense

Pay yourself first (PYF)

• make yourself a bill and save regularly

• give to your church

Any form of money you receive

• liability

• income

Fixed expense

• discretionary spending

• A set cost that must be paid each budgeted period

the understanding of the basice knowledge and skills needed to manage financial resources

• financial literacy

• long term liability

wealth is

• an abundance of assets that are accumulated over time

• a rich person