Answer:
The answer to this question is given below in the explanation section.
Step-by-step explanation:
This question is from Personal Finance unit 1 lesson 4- Money Management Strategy.
So the term that best matches the description is given below:
Fixed cost: An expense that does not vary from one time period to the next.
APR: Abbreviation of annual percentage rate, the interest rate applied annually to a loan or credit card balance.
Savings: Money set aside for future use.
Budget: To plan the allocation, expenditure, reuse of money.
Income Potential: The amount of money that is anticipated to be received over a period of time, either as payment for work, goods, or services, or as profit on capital.
APY: abbreviation of annual percentage yield, the rate of return earned in the course of one whole year, taking compounds into account, expressed as a percentage.
Refinancing: To obtain a new loan for something on different terms, often involving the paying off of an existing high-interest loan by means of a new, lower interest one.
Withdraw: To take money out of an account.
Cash Reserve: Cash and other liquid assets such as demand deposits or treasury bills that an individual possesses.
Cost of living: The amount of money spent on food, clothing, accommodation, and other basic necessities.