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ITB_Ch16_MoneyManagement

Name: ___________________________________
Across
The _______ Statement reports net wages and other income along with spending for a period, such as for a month
This occurs when you spend more than you earned in income for a period
The amount of money you plan to use for a certain budget category
Amounts owed to others
This occurs when you spend less than you earned in income for a period
Refers to the day-to-day financial activities associated with using limited income to satisfy unlimited needs and wants
The difference between a person's assets and liabilities
The money you have available to spend as a result of working or other income is Cash ________
The difference between actual and budgeted amounts
A car loan is an example of a(n) _________
Setting financial goals is the ________ step in creating and using a budget
Planning budget categories and allowances is the ________ step in the budgeting process
Down
Maintaining financial records is the _______ step in the budgeting process
Amounts spent during the period for food, clothing, transportation and other living costs are cash ________
This type of expense is different from period to period and harder to estimate
This is the first section of the Cash Flow Statement
A record of assets, liabilities and net worth at a point in time. Shows the financial position
An effective budget should be ________, flexible and evaluated regularly
The difference between a person’s assets and liabilities is their ________
Items of value
A ___________ allows you to meet your personal goals with a system of saving and wise spending
The least desirable type of budgeting formats is a _________ budget
Rent is an example of this type of expense