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Money Management Vocabulary
an estimate of income and spending for a set period of time.
a comparison of what you earn (income) to what you spend (expenses).
Financial Goals - plans you have for the future. They can be short, medium or long-term.
Income - money that you make or earn.
Expenses - money that you spend or owe (bills, for example).
Balanced Budget - when you have no debt, but you are not saving money either; breaking even.
Wants vs. Needs:
Want - something that you desire, but is not needed to survive.
Need - something that is necessary for survival.
Record-Keeping - a history of financial activities kept in a record or journal.
Money Management/Budgeting Video
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Money Management/Budgeting Quiz
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