Budgeting Vocab

Front

A written plan for giving, saving, and spending

Back

budget

Front

Money received for work, gifts, or investments.

Back

Income

Front

Expense that remains constant monthly

Back

Fixed expense

Front

Expense that varies monthly but is expected each month.

Back

Variable expense

Front

Expense occurring at various times in large sums.

Back

Intermittent expense

Front

Expense for non-essentials

Back

Discretionary (nonessential) expense

Front

A cash-flow plan that assigns an expense to every dollar of income, aiming for total income minus total expenses to equal zero.

Back

zero-based budget

Front

Earnings after taxes and deductions; often called take-home pay.

Back

net income

Front

Amount earned before taxes and deductions

Back

gross income

Front

Record summarizing income and spending over time

Back

cash-flow statement