front 1 Earned Income | back 1 wages, salary, tips, bonuses |
front 2 Standard of living | back 2 is the material basis of well-being, which is reflected in a person's consumption level |
front 3 Salary | back 3 paid a fixed amount per pay period |
front 4 Bonuses | back 4 goal-driven |
front 5 Fair market value | back 5 the amount it is worth TODAY if you sold it. |
front 6 Income and Expense Statement | back 6 shows a breakdown of your income and expenses over a period of time. It is also used to calculate net income. |
front 7 Gross income | back 7 income without deductions |
front 8 Expenses | back 8 cost required or the money spent on somethin |
front 9 Budget | back 9 balancing your expenses with your income |
front 10 Financial statements | back 10 looks at today (a Net Worth Statement) and one that looks at the past (Income and Expense Statement) |
front 11 Well-being | back 11 state of being comfortable, healthy, or happy |
front 12 Standard of living | back 12 degree of wealth and material comfort available to a person. |
front 13 Commissions | back 13 oriented to production or sales |
front 14 Net worth | back 14 assets (own) - liabilities (owe) |
front 15 Assets | back 15 item or something of value that you own |
front 16 Liabilities | back 16 debt or money owed that you are obligated to pay (car loan, mortgage) |
front 17 Solvent | back 17 you are able to pay all debts |
front 18 Insolvent | back 18 NOT able to pay all debts |
front 19 Unearned income | back 19 interests, dividends, child support, unemployment |
front 20 Utility | back 20 the satisfaction received from consuming goods and services |
front 21 Short-term goals | back 21 0-2 years |
front 22 Mid-term goals | back 22 2 to 8-15 years |
front 23 Long-term goals8-15 + | back 23 8-15 + |
front 24 SMART goals | back 24 specific, measurable, achievable, relevant, time-bound |
front 25 Liquid | back 25 easy to sell or convert into money |