Budget Vocab

Front

The spending money left over at the end of each month after all mandatory expenses have been deducted.

Back

Discretionary Income

Front

Things an individual does not need in order to survive but enjoys having.

Back

Wants

Front

The amount to which the required minimum falls short.

Back

Deficit

Front

Things an individual cannot do without.

Back

Needs

Front

An estimate of given expenses and income over a given time period in the future.

Back

Budget

Front

Earnings

Back

The amount of money a person earns through a given time period.

Front

Goals that meet specific criteria: specific, measurable, attainable, realistic and time oriented.

Back

SMART Goals

Front

Things an individual sets out to achieve.

Back

Goals

Front

Money set aside for an unplanned costly event.

Back

Emergency Funds

Front

Too much of an item in stock.

Back

Surplus