Budget VOCAB

The amount of money you will spend each month on savings, utilities, rent, and other payments. It allows people to keep track of their spending and not overspend.

• Budget

• Income

• Bills

• Outcome

Amounts that are taken out of your paycheck.

• Deductions

• Taxes

• Insurance

• Expenses

Money you have left to invest or spend after you’ve paid all of your expenses each month.

• Disposable Income

• Savings

• Net Pay

• Gross Pay

Expenses that cost the same amount each month. These bills cannot easily be changed.

• Fixed Expenses

• Variable Expenses

• Deductions

• Bills

The amount of money you actually make without deductions.

• Gross Monthly Income

• Net Monthly Income

• Disposable Income

• Income

Money taken out of everyone’s paycheck to pay for schools, roads, etc

• Income Tax

• Tax

• Medicare

• Insurance

The amount of money you actually receive after deductions on your paycheck.

• Net Monthly Pay

• Gross Monthly Pay

• Disposable Income

• Income

Tax you pay on items that you purchase at the store.

• Sales Tax

• Income Tax

• Property Tax

• Variable Tax

Expenses that change. They represent those daily spending decisions like eating out at a restaurant, buying clothes, etc.

• Variable Expenses

• Fixed Expenses

• Expenses

• Entertainment

Money that is set aside each month to save.

• Savings

• Investments

• Disposable Income

• Income