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Budgeting Unit

Vocabulary used in Budgeting unit

1Goals _____ A spending plan for managing money during a given period of time.
2Budget _____ Currency or coin that are guarenteed legal tender by government.
3Asset _____Things that make life more interesting and fun but not necessary for living.
4Money _____Something you aim for(short, intermediate,long)
5Needs _____Things we must have to survive (food, clothing, shelter)
6Wants _____Movement of the money you receive and the money you spend.
7Financial Planning _____Expenses that cost the same amount every time.
8Values _____Expenses that are not fixed.
9Cash Flow _____The amount of money spent to buy something or do something.
10SMART _____A resource with economic value that an individual, corporation or country owns.
11Fixed Expense _____The beliefs, qualities, or standards that you consider important or desirable.
12Variable Expense _____The process of setting spending priorities, defining goals and developing a plan to achieve them and then putting the plan to action.
13Expense _____Acronym that represents the steps of a good financial plan (specific, measurable, attainable, realistic, time-bound)

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