Budgeting Vocab and Review

Front

Total income before deductions

Back

Gross Income

Front

Income after deductions

Back

net income

Front

Expenses that vary weekly or monthly (e.g., clothing, food)

Back

Variable expenses

Front

Expenses that remain constant and are paid regularly (e.g., mortgage, car payments).

Back

Fixed expenses

Front

Gasoline is a:

Back

Variable expense.

Front

Rent/mortgage

Back

fixed expense

Front

Entertainment: fixed, unexpected, unanticipated, or variable expense?

Back

Variable expense.

Front

Utilities

Back

variable expense

Front

First step in budgeting:

Back

Set financial goals.

Front

Not a need:

Back

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