Define and discuss the following: The purpose of a Personal Cash Flow Statement The purpose of a Personal/Household Budget The difference(s) between a Personal Cash Flow Statement and a Personal/Household Budget in terms of the data, and in terms of the use of the data (i.e., where does the data come from, and what is the data used for?) Challenges you may face developing the cash flow estimate Describe an emergency fund, its use, how it is built The following terms: Take-Home Income Monthly Living Expenses Secured Debts Unsecured Debt Disposable Income Disposable income as a percent of total income
