Day-to-day financial activities necessary to manage current personal economic resources while working toward long-term financial security.. Cash and items of value that can easily be con
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Cha pt er 2: M on ey M a n a gem en t Sk i lls
1 The difference between the amount budgeted and the
actual amount received or spent
4 Debts you do not have to pay in full until more than a
year from now
5 Day-to-day financial activities necessary to manage
current personal economic resources while working
toward long-term financial security
6 Cash and items of value that can easily be converted
to cash
8 Cash and other property with a monetary value
10 Inflows of cash to an individual or a household
11 A summary of cash receipts and payments for a
given period
12 Money left over after paying for housing, food, and
other necessities
13 The amount by which actual spending is less than
planned spending
16 The inability to pay debts when they are due because
liabilities far exceed the value of assets
17 Amounts owed to others
18 A specific plan for spending income
2 Debts you must pay within a short period of time, usually less than a year
3 Reports what you own and what you owe
7 Earnings after deductions for taxes and other items; also called disposable income
9 A private storage area at a financial institution with maximum security for valuables
11 The actual inflow and outflow of cash during a given time period
14 The amount by which actual spending exceeds planned spending
15 The difference between total assets and total liabilities
C A S H F L O W S T A T E M E N T
C U R R E N T L I A B I L I T I E S
D I S C R E T I O N A R Y I N C O M E
L O N G T E R M L I A B I L I T I E S
M O N E Y M A N A G E M E N T
S A F E D E P O S I T B O X
B U D G E T V A R I A N C E
L I Q U I D A S S E T S
B A L A N C E S H E E T T
A K E H O M E P A Y
L I A B I L I T I E S
I N S O L V E N C Y
N E T W O R T H
C A S H F L O W
S U R P L U S D
E F I C I T
I N C O M E
B U D G E T
A S S E T S
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