Basic Budgeting Terms

Front

Budget

Back

A plan for making and spending money.

Front

Fixed Expenses

Back

Costs that do not change from month to month.

Front

Variable Expenses

Back

Costs that vary in amount and type, depending on the choices you make.

Front

Want

Back

Something you would like to have but is not essential for living.

Front

Need

Back

Something essential for survival, such as food or shelter.