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