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Term Definition
ALLOWANCE the amount of something that is permitted, especially within a set of regulations or for a specified purpose.
BUDGET VARIANCE the difference between the budgeted or baseline amount of expense or revenue, and the actual amount.
FINANCIAL PLAN a comprehensive evaluation of an individual's current pay and future financial state by using current known variables to predict future income, asset values and withdrawal plans.
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 the amount by which assets exceed liabilities
PERSONAL ASSETS an asset in the form of money or chattels
BUDGET CATEGORY In the "Housing" category of household budget items, include household maintenance and repairs, renters or homeowners insurance and property taxes that you pay to your county or government jurisdiction.
FINANCIAL GOALS financial target is an objective which is expressed in or based upon money.
INCOME money received, especially on a regular basis, for work or through investments
LONG TERM GOALS something you want to do in the future.
SHORT TERM GOALS s something you want to do in the near future.
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 the expenses incurred during the process of creating a new business.
DEBT something, typically money, that is owed or due.
REVENUE ncome, especially when of a company or organization and of a substantial nature.
PROFIT a 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.
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 he proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.
ASSET property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies.
LIABILITY the state of being responsible for something, especially by law.
NET WORTH the amount by which assets exceed liabilities.
COLLATERAL something pledged as security for repayment of a loan, to be forfeited in the event of a default.
CAPITAL wealth in the form of money or other assets owned by a person or organization or available or contributed for a particular purpose such as starting a company or investing.
LOAN TERM a monetary loan that is repaid in regular payments over a set period of time.
BUDGET an estimate of income and expenditure for a set period of time.
EQUITY the value of the shares issued by a company.

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