Financial Basics - Financial Glossary

Assets

Valuable resources or possessions owned by an individual that have economic value, including real estate, stocks, bonds, cash, and vehicles.

A financial plan that allocates income toward expenses, savings, and goals over a specific time period.

The movement of money into and out of your accounts over a specific period of time, including income, expenses, and investments.

The process of converting investments or assets into liquid cash, making funds readily accessible for use.

Information about your finances that you manually track and manage, including assets, income, expenses, and investments.

Debts or financial obligations owed by an individual or entity, such as mortgages, loans, credit card debt, and other outstanding payments.

The ease with which an asset or investment can be converted into cash without significantly affecting its market price.

Money set aside or reserved for future use, typically in a savings account or investment vehicle.

Mandatory payments imposed by governments on income, property, goods, or services that fund public services and infrastructure.