Question Answer
Allowance the amount of something that is permitted, especially within a set of regulations or for a specified purpose.
Budget an estimate of income and expenditure for a set period of time."keep within the household budget
Budget Varience difference between the budgeted or baseline amount of expense or revenue
Financial Plan comprehensive evaluation of an individual's current pay and future
Fixed Expense an expense that will be the same total amount regardless of changes in the amount of sales, production, or some other activity.
Money Management the process of budgeting, saving, investing, spending or otherwise in overseeing the cash usage of an individual or group
Net Worth is defined as assets minus liabilities. Essentially, it is a measure of what an entity is worth.
Personal Assets an asset in the form of money or chattels. It could be any item of economic value owned by an individual or corporation, especially that which could be converted to cash.
Budget Category
Financial Groups principal form for the organization of finance capital; the highest stage of capitalistic monopolization.
Income money received, especially on a regular basis, for work or through investments."he has a nice home and an adequate income
Long Term Goals Goals that take a long time
Deficit the amount by which something, especially a sum of money, is too small.
Surplus an amount of something left over when requirements have been met; an excess of production or supply over demand
Start up cost Non-recurring costs associated with setting up a business, such as accountant's fees, legal fees, registration charges, as well as advertising, promotional activities, and employee training.
Equity the value of the shares issued by a company.
Debt something, typically money, that is owed or due.
Revenue income, especially when of a company or organization and of a substantial nature
Profit financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.
Loss the fact or process of losing something or someone."avoiding loss of time"
Cash Flow he total amount of money being transferred into and out of a business, especially as affecting liquidity.
Line of Credit an amount of credit extended to a borrower.
Interest Rate the proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.
Asset a useful or valuable thing, person, or quality.
Liability the state of being responsible for something, especially by law."the partners accept unlimited liability for any risks they undertake"
Net Worth For a company, net worth is the value of the company.
Collateral something pledged as security for repayment of a loan, to be forfeited in the event of a default

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