Budget Basics

Putting away money for future use or an emergencies

• Investing

• Saving

• Budgeting

• Credit

Estimate of income and expenses for a set period of time (usually a month).

• Budget

• Financial Planning

• Account Balance

• Cash Flow

Monthly expenses that do NOT change (same amount every time).

• Fixed Expenses

• Variable Expenses

• Liabilities

• Cash Flow

Monthly expenses that do change (different amount every time).

• Fixed Expenses

• Variable Expenses

• Liabilities

• Cash Flow

Examples of these are: rent, mortagage payment  or car payment

• Fixed Expenses

• Variable Expenses

• Budget Surplus

• Budget Deficit

When you have more expenses (bills) than you have income (money coming in)

• Fixed Expenses

• Variable Expenses

• Budget Surplus

• Budget Deficit

A budget it a helpful tool.

• True

• False

A budget is ___________.

• a list of what to buy at a store

• a plan for managing your money. It compares how much you earn (make) to how much you spend

• is things you shouldn't do

The goal of a budget is _________________.

• to spend more than you make

• to spend less than you make

Income is all the money you earn (make) over a period of time. Usually a month.

• True

• False