Budgeting Vocabulary

Front

Spending plan for managing money during a given period of time

Back

budget

Front

Expenses that do not change from month to month, such as auto insurance or rent.

Back

Fixed Expenses

Front

Expenses that vary from month to month, such as entertainment, car repairs, or doctor bills.

Back

Variable Expenses

Front

The next best alternative given up when making a financial choice.

Back

Opportunity Cost

Front

The economic condition of limited resources that prevents people from having everything they want.

Back

Scarcity

Front

To put money to use by buying a part of something, so that you may have profitable returns.

Back

Investing

Front

The making of a program to manage finances through budgeting and investment.

Back

Financial Planning

Front

Liabilities

Back

the debts that you owe

Front

money is kept for future use.

Back

Savings

Front

A decrease in the value of an asset

Back

Depreciation