Money Management Terms
Flashcard
•
Life Skills
•
10th Grade
•
Hard
Walter Brady
Used 1+ times
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11 questions
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1.
FLASHCARD QUESTION
Front
Budget
Back
A plan for managing income and expenses over a specific period. Helps track spending and saving.
2.
FLASHCARD QUESTION
Front
Income
Back
Money received, especially on a regular basis, for work or through investments. Examples include salary, dividends, and rental income.
3.
FLASHCARD QUESTION
Front
Expenses
Back
The costs incurred in the process of earning income and maintaining a lifestyle. Categories include fixed, variable, and discretionary expenses.
4.
FLASHCARD QUESTION
Front
Fixed Expenses
Back
Regular, recurring expenses that do not change from month to month. Examples include rent, mortgage, and insurance.
5.
FLASHCARD QUESTION
Front
Variable Expenses
Back
Expenses that can change from month to month. Examples include utilities, groceries, and transportation.
6.
FLASHCARD QUESTION
Front
Discretionary Expenses
Back
Non-essential expenses that can be adjusted based on financial goals. Examples include entertainment and dining out.
7.
FLASHCARD QUESTION
Front
Savings
Back
Money set aside for future use, typically in a savings account or other low-risk investment. Important for emergency funds and future purchases.
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