Ramsey Chapter 2 vocab

Front

A cash-flow plan that assigns an expense to every dollar of your income; the goal is for the total income minus the total expense to equal zero

Back

Zero-Based Budget

Front

Income that comes in at different amounts or at different times, or both

Back

Irregular Income

Front

What a person earns after payroll taxes and other deductions are taken out; often referred to as take-home pay

Back

Net Income

Front

Expense for things you don’t need

Back

Discretionary Expense

Front

Expense that occurs at various times throughout the year and tends to be in large, lump sums

Back

Intermittent Expense

Front

The amount you earn before taxes and other payroll deductions

Back

gross income

Front

Money received for work, as a gift, or though investments

Back

Income

Front

A written plan for giving, saving, and spending

Back

budget

Front

 Expense that remains the same from month to month

Back

Fixed Expense

Front

A record that summarizes all of the income and outgo (spending) over a certain time period

Back

Cash-flow statement