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Carbon check A copy of each check you write Envelope System Series of envelopes that are divided into categories and are used to store cash for planned monthly expenses Impulse purchase An item that is bought without previous planning or consideration of the long-term effects Overdraft Occurs when money is withdrawn from a bank account and the available balance goes below zero Reconcile To match your bank statement with your checkbook Zero-Based Budget A cash flow plan that assigns...

spending more money than you are earning every month paycheck a document that tells your employer's bank how much money to give to you what does a paycheck include employer's name and address, a check number, the date of the check, your name as the recipient, the amount of the check written in numbers and spelled out, the signature of a person authorized by your employer pay stub attached to the paycheck and provides information about the money you earned what does a pay stub include ...

Credit Management Decisions regarding how much credit to obtain to support your spending and which source of credit to use Plans for Investing Any funds beyond what you need to maintain liquidity should be invested. Estate Planning determining how your wealth will be distributed before or upon your death Effective financial plan can... enhance net worth and build wealth Financing focuses on... obtaining cash for large purchases or repaying loans Steps of Developing a Financial Plan 1...

According to Mila Baker, the concept of "financial regret" refers to: an expense that you wish you would not have made. Reassessing characteristics such as the quality, style, or newness of certain items (for example, a cell phone) may be necessary in order to: all answers Donald saves by depositing $1,000 at the beginning of each year into an account that earns 10%, compounded annually. How much interest does Donald's account earn during its third year? 331 We have spent a fair amou...

The widespread financial insecurity of Americans is probably because The savings rate of Americans is low and many borrow in order to spend more than they earn. Which of the following is not a factor in becoming money smart? Learn how to read your credit card statements. Which of the following is not a benefit of understanding your own money personality? Knowing your money personality allows you to excuse excessive spending because it is simply part of your nature. Why was the use of cre...

Compliance The act of accepting and meeting specific standards Compound interest Interest earned on the principal amount and then accumulated over a period of time Consolidation The combining of two separate companies into one Corporate bond Bonds issued by a company Data mining Sifting through large amounts of data to find the necessary information Deferred shares Shares that do not receive income until they have reached a certain level Dividends Money distributed to the owners of ...

Break-Even is Company goes from making a loss to making a profit. Fixed Costs Costs you pay even when no sales are made. Vairable Costs Costs which vary depending on output. Total Cost (Break-even) Fixed Cost + Vairable Cost Creditors Those to whom the firm owes money for goods or services it has had but not yet paid for. Debtors People who owe your company money/ Shareholders Those who own shares in a company or business

Culture affected by tradition, religion and ethical beliefs, will have different attitudes to money. The older generation of Chinese people, for example have a culture a saving. Life events Events throughout your life will impact on your attitude to money. These events may be within your control, for example going to university, travelling abroad, getting married or starting a family or any be outside your control, example illness, financial gains and losses External influences Factors ...

All the money coming into the business, also called 'Sales Revenue'. Operating Profit The amount of profit which the business has made on its main activities. Corporation Tax The tax which private and public limited companies must pay on their profits. Dividends The part of a company's profit paid out to shareholders. Balance Sheet Shows exactly how much a business is worth on a stated day. A statement of what the business owns and owes on a given date. (One moment in time, the asset...

2 Types of Partnership 1. General 2. Limited General Partnership each partner is fully responsible for liabilities Limited Partnership - one or more partners have limited liability - limited partners do not participate in the management - limited partners are merely investors one general partner must exist Advantage of General Partnership