Glossario

In financial terms, this is any transaction that directly or indirectly increases an amount of money. Income can be ordinary (e.g. wages) or extraordinary (for instance, lottery winnings or a gift), depending on whether they are likely to recur over time. The purpose of financial planning is to balance a household's income and its expenses. Sound financial planning starts with an analysis of the household’s finances and involves setting spending and saving goals. To do this, it is necessary to calculate how much money normally goes into and out of the household's 'coffers', bearing in mind the characteristics of the different sources of income and of the different types expenses, however predictable. To help you achieve your financial planning goals, it is useful to keep a record of income and expenses, in other words a budget.