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Financial Aid: money awarded in the form of loans or grants for the purpose of covering the cost of higher education; usually awarded based on financial status and need.
Fiscal Year: an accounting period of 12 months; in business this is not necessarily the calendar year but may run, for example, from September 1 to August 31.
Fixed Expenses: not subject to change or fluctuation; recurring on the same date from month to month or year to year.
Fixed Universal Life Insurance: a way to combine life insurance death benefit protection and cash value accumulation with flexible terms under one policy; may be able to adjust insurance premiums and amount of insurance coverage.
Forecast: to calculate or predict some future event or condition, usually as a result of study and analysis of available data; to predict on the basis of correlated observations; to indicate as likely to occur.
401(k): a long-term savings plan instituted by an employer in which a deposit is deducted automatically from your paycheck and invested by a plan manager.
Gross Income: amount of money an employee is paid before any deductions are taken; the amount actually earned.
Inflow: a flowing in; the income that comes into a household or business.
In-kind: payment or donation consisting of something other than money, such as goods or commodities.
Legislator: one that makes laws especially for a political unit; a member of a legislative body.
Net Income: the amount of pay that remains after all payroll deductions are made; often called take-home pay.
Negative Cash Flow: spending more money than you are receiving each month.