Budget Vocabulary

Front

What are Variable Expenses?

Back

Expenses that change in cost from month to month.

Tags

CCSS.RI.7.4

CCSS.RI.6.4

CCSS.RI.8.4

CCSS.RI.5.10

CCSS.RI.9-10.4

Front

What are Fixed Expenses?

Back

Expenses that do not change in cost from month to month.

Front

What is a Budget?

Back

A plan that outlines expected income and expenses over a specific period.

Tags

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.6.4C

CCSS.L.9-10.4C

CCSS.L.11-12.4C

Front

What is a Long Term Goal?

Back

Plans that take a year or more to accomplish.

Tags

CCSS.L.7.4C

CCSS.L.6.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

CCSS.L.3.4D

Front

What is a Short Term Goal?

Back

Plans that can be accomplished within a year.

Tags

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.6.4C

CCSS.L.9-10.4C

CCSS.L.11-12.4C

Front

What is the difference between Wants and Needs?

Back

Wants are things you desire but can live without; Needs are essential for survival.

Tags

CCSS.L.4.6

CCSS.L.3.6

CCSS.RL.1.4

CCSS.L.1.6

Front

What is Savings?

Back

Money that is set aside for future use.

Tags

CCSS.L.7.4C

CCSS.L.6.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

CCSS.L.3.4D

Front

What is Income?

Back

Money received, especially on a regular basis, for work or through investments.

Tags

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.6.4C

CCSS.L.9-10.4C

CCSS.L.11-12.4C

Front

What are Examples of Variable Expenses?

Back

Groceries, gas, entertainment, and car repairs.

Front

What are Examples of Fixed Expenses?

Back

Rent, mortgage, and insurance payments.