topic 1

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bankruptcy
a situation in which a person cannot pay their debts
1 of 8
budget
a plans of expected incomings and outgoings over a set time period such as a month
2 of 8
contingency plan
planning for unexpected changes in income or expenditure
3 of 8
deficit
where expenditure exceeds income
4 of 8
disposable income
the amount of money left over mandatory and essential expenditure
5 of 8
financial capability
being able to manage personal finance
6 of 8
insolvency
a situation in which a person cannot repay what they owe
7 of 8
income protection insurance
a policy that allows people to manage the risk of loss of earnings over a long term.
8 of 8

Other cards in this set

Card 2

Front

budget

Back

a plans of expected incomings and outgoings over a set time period such as a month

Card 3

Front

contingency plan

Back

Preview of the front of card 3

Card 4

Front

deficit

Back

Preview of the front of card 4

Card 5

Front

disposable income

Back

Preview of the front of card 5
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