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