PF Chapter 5 Test

Assets

any items of value that you own, such as cash, real estate, personal possessions, and investments.

Surplus

extra money that you can spend or save, depending on your financial goals and values.

Wealth

is property that has a money value or exchangeable value.

Liabilities

the debts that you owe.

Cash Flow

the movement (cash) in and out of your wallet and /or your bank account.

Money Management

the day- to- day financial activities necessary to get the most from your money.

Personal Balance Sheet

a financial statement that shows what you own and what you owe.

Surplus

extra money that you can spend or save, depending on your financial goals and values

Money Management

the day-to-day financial activities necessary to get the most from your money

Liabilities

the debts that you owe

Assets

any items of value that you own, such as cash, real estate, personal possessions, and investments

Wealth

is property that has a money value or exchangeable value

Cash Flow

the movement (cash) in and out of your wallet and/or your bank account

Personal Financial Statement

gives information about your current financial position and presents a summary of income and spending

Personal Balance Sheet

a financial statement that shows what you own and what you owe

Examples of Liabilities

student loans, credit card balances, and mortgages

Examples of Assets

your home, jewelry, and art