Budget Vocabulary

Front

Money that you earn (“Money In”)

Back

income

Front

money that you spend or give away (“Money Out”)

Back

expenses

Front

money that you put away or put in the bank to use later; a plan for buying future wants or needs

Back

savings

Front

using more money than you have available

Back

overspending

Front

a plan for spending money and saving

Back

budget

Front

Spending 50% of money earned on clothing, food, rent, and utilities. Spending 30% of money earned on games, toys, and your wishlist. Saving 20% of money earned for emergencies.

Back

The 50/30/20 Rule

Front

Budgeting can help prevent impulse buying.

Back

True

Front

Creating a budget plan can help you save money. True or False?

Back

True

Front

A budget plan is meant to make you overspend your income.

Back

False

Front

A budget helps you keep track of how you spend your money.

Back

True