Budgeting Vocab

a plan of expected income and how you will spend it based on a month

• expenses

• budget

• investing

• income

expenses that are essential for you to be able to live and function

• budget

• needs

• income

• wants

A budgeting method where money for monthly spending is taken out in cash and placed in labeled envelopes according to budget categories

• zero-based budget

• cost of living

• cash envelope budget

• 50/30/20 budget

A term used to reference electric, water, gas, and other services.

• expenses

• wants

• utilities

• income

Reaching a conclusion after considering alternatives and their results.

• gross pay

• cost of living

• consequences

• decision-making

things that add comfort and pleasure to your life

• needs

• wants

• salary

• trade-offs

An individual who earns money on a per-job or per-task basis, usually for short-term work.

• freelancer

• wants

• deduction

• salary

amount of money needed to sustain a certain level of living including basic expenses

• cash envelope budget

• needs

• budget

• cost of living

items or services you pay for such as rent, food, bills

• expenses

• budget

• salary

• income

expenses which stay basically the same from month to month

• variable expense

• unit price

• income

• fixed expense