An individual’s income earned as salary or wages before taxes and other deductions
The portion of current income not spent on consumption
Lists and summarizes income and expense transactions that have taken place over a specific period of time, usually a month or year
Money spent
Measure of financial wealth
Everything a person owns with monetary values
When expenses are greater than income
A debt or obligation owed to others
When income is greater than expenses
payment, usually monthly, applied to the balance of a home loan used when purchasing housing
Mortgage
Liability
Gross income
Savings
Expense
Income and Expense Statement
Net gain
Net Worth
Assets
Net loss
