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Definitions (25)
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variable expenses
cash obligations that vary from month to month (examples include: dining out, entertainment, gas, shopping and travel)
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Net income
the amount of your income left after taxes have been deducted
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Non-sufficient fund fees
returned or "bounced" cheque fees (also called non-sufficient funds fees) are charged to an account holder when the bank returns a cheque unpaid because there was not enough money in the che [..]
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Interest
additional money paid by a borrower to the lender for the use of the loan amount
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LOAN
an arrangement where money or property is borrowed, in which the borrower agrees to repay the money on a specified schedule or return the property, usually with interest
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gross income
total income before adjustments, deductions or exemptions
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Income
money you receive from work, business, investments, etc.
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fixed expenses
cash obligations that remain the same every month (some examples include rent or mortgage, car insurance or auto payments, student loans, etc.)
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financial literacy
the ability to read and understand financial concepts along with the capability to discern financial choices that affect material well-being
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Financial plan
a written outline of financial goals and action steps required to achieve those outcomes (examples of goals include: setting up a retirement account, funding children’s education or saving cash reserv [..]
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