Money Skills Vocabulary

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Across
  1. 2. Goals - Specific objectives that individuals aim to achieve through budgeting and saving, such as buying a home, paying off debt, or planning for retirement.
  2. 3. Partner - A person who supports and encourages another in achieving their budgeting and financial goals, often providing motivation and oversight.
  3. 6. - Money received on a regular basis, typically from employment, investments, or other sources, used to fund expenses and savings.
  4. 7. Income - The amount of money left after all expenses and taxes have been deducted from gross income, representing actual take-home pay.
  5. 9. Spending - Non-essential expenses that can be adjusted or eliminated, such as entertainment or dining out, allowing for more flexibility in a budget.
  6. 10. System - A budgeting method where cash is divided into envelopes designated for specific spending categories, helping individuals control expenses.
  7. 13. - Money that is set aside from income for future use, often kept in a bank account or investment vehicle to earn interest.
  8. 14. Fund - A savings reserve set aside for unexpected expenses or financial emergencies, providing a safety net.
  9. 15. - A financial plan that outlines expected income and expenses over a specific period, guiding individuals on how to allocate their resources.
Down
  1. 1. Expenses - Costs that can fluctuate from month to month, such as groceries or utility bills, requiring careful monitoring in a budget.
  2. 4. Flow - The total amount of money being transferred in and out of an individual's account, reflecting their liquidity and financial health.
  3. 5. - To allocate money or resources with the expectation of generating a profit or achieving a financial return over time.
  4. 8. Expenses - Regular, consistent expenses that do not change in amount over time, such as rent or insurance premiums.
  5. 11. - Any cost incurred in the process of spending money, which can be categorized as fixed (constant) or variable (changing).
  6. 12. - The act of spending more money than is allocated in a budget, which can lead to financial difficulties.