is a snapshot of a person's financial condition at a given moment. It is the total value of the person's assets, or possessions, minus the value of his or her liabilities, or debts.

cash and investments—such as checking and savings accounts—personal property (jewelry, a car, or a computer), stocks (shares in a corporation), real estate, and business equipment

How Quickly an asset can be converted into cash .Examples include checking accounts and savings accounts.

Automatically route money from paycheck to savings (before paying bills).Is called

Refers to the fact that money received today is worth more than money received next year or the year after.

Interest calculated on both the principal and the accrued interest.

are financial obligations, or amounts of money you owe. Liabilities include outstanding bills and debts of any kind, such as student loans, car loans, money borrowed from friends or family, mortgages (and rent, if you have a lease), and taxes.

Groups of stocks, bonds, and other investments managed by an investment firm

Inflation is the general rise of price levels: who suffers in inflation

how long (many years) will it take to double an investment?

retirement plan when employers often match a portion of every dollar you invest

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