Opportunity cost
Liabilities
Wants
Trade off
Assets
Cash inflows
Cash outflows
Needs
Financial resources
Net worth
The value of your next best option - what you are giving up.
Debts that you owe
Things people desire for reasons beyond basic comfort and survival
Money and items of value that you own.
Expenses or other items for which you must spend money.
Giving up one item for another
Things needed for survival, such as food, clothing, water, shelter and medical care
Income from your job, investments and other sources
Money and other items of value that are used to acquire goods and services
The difference between your assets and liabilities
