Net worth
Everything you own minus everything you owe.
Learn the bigger idea
Related words
- Budget
- A plan for how you'll spend and save the money you expect to get.
- Opportunity cost
- What you give up when you choose one thing over another.
- Cost per month
- The price of something divided by the number of months you use it. It shows the real cost of a big purchase.
- Cost per use
- The price of something divided by the number of times you use it. A cheap item you rarely use can cost more per use than a pricey one you use daily.
- Unit price
- The price of one unit of something, like one can or one ounce. It lets you compare different package sizes.
- Emergency fund
- Money set aside only for surprises, like a car repair or a lost job. A common goal is three to six months of expenses, built up over time.
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