Budgeting

Front

^Wants

Back

Things or items that a person would like to own or purchase that is not necessary for life; Ex. entertainment, video games, etc.

Front

Budget

Back

Is a spending plan for managing your money that includes income and expenses

Front

Total monthly income

Back

Income from all possible sources.

Front

Needs

Back

Necessary items that are paid monthly./yearly such as food, housing, transportation, utilities, & Insurance

Front

If an expense can NOT be removed from your budget to save money, it is considered a _____.

Back

Need

Front

Preparing a budget includes

Back

Income, Expenses, Saving

Front

Medical care is an example of a ______

Back

Need

Front

A vacation is an example of a _________

Back

want

Front

What two things does a budget compare?

Back

Income and Expenses

Front

If your net income is $5400, how much should you budget for needs according to the 50/30/20 rule?

Back

$2700