Income and Expense

Communication and computer

• Tuition , Private lessons/Tutoring , Supplies
• cell phone, internet service, cable/satellite television, laptop
• movies,music,
• record in writing, Smartphone, keep receipts, depository institution account statements, money management computer software program

Credit Costs:

• credit cards,student loans
• Tuition , Private lessons/Tutoring , Supplies
• movies,music,
• record in writing, Smartphone, keep receipts, depository institution account statements, money management computer software program

Educational expenses:

• cell phone, internet service, cable/satellite television, laptop
• Tuition , Private lessons/Tutoring , Supplies  
• movies,music,  
• child care, allowances, care for other dependents ent computer software

Entertainment:

• movies,music,
• record in writing, Smartphone, keep receipts, depository institution account statements, money managem program
• child care, allowances, care for other dependents ent computer software
• child care, allowances, care for other dependents ent computer software

Explain some different ways that income and expenses may be tracked

• record in writing, Smartphone, keep receipts, depository institution account statements, money managem program
• child care, allowances, care for other dependents ent computer software  
• Income - expenses = net gain (positive number)  or net loss (negative number)
• Medical care, dental care medication

Family Member Care

• Wages or salary before deductions, commissions/tips/bonuses, tax refunds
• child care, allowances, care for other dependents
• Food , Veterinary costs , Boarding
• Income - expenses = net gain (positive number)  or net loss (negative number)

How is a net gain/loss calculated?

• Income - expenses = net gain (positive number)  or net loss (negative number)
• a product that transfers risk from an individual to an insurance company or organization
• Food , Veterinary costs , Boarding
• child care, allowances, care for other dependents ent computer software

What is income

• any kind of money that you receive.
• ALL of the money you receive BEFORE taxes or other expenses.
• money that remains AFTER taxes and other mandatory expenses.
• Interest earned during time period, money earned from investment during time period, sales of assets, money from savings and investments to help pay unforeseen expenses

What is gross income?

• ALL of the money you receive BEFORE taxes or other expenses.
• Interest earned during time period, money earned from investment during time period, sales of assets, money from savings and investments to help pay unforeseen expenses
• workers compensation, scholarships/grants from government sources
• money that you spend

What is net income?

• money that remains AFTER taxes and other mandatory expenses.
• Wages or salary before deductions, commissions/tips/bonuses, tax refunds
• Interest earned during time period, money earned from investment during time period, sales of assets, money from savings and investments to help pay unforeseen expenses
• workers compensation, scholarships/grants from government sources