Income and Expenses

A _____ is something that is necessary for humans to live a healthy life an example could be food, water, medical, housing, clothing

• Need 
• Want

A ______ is something that is desired e.g. computer, holiday, car, cell phone

• Need 
• Want

An obligation to repay borrowed money.

• debt

• promise

• asset

• expense

The cost of goods or services.

• liability

• expense

• consumer

• budget

An unlimited amount of wants but limited resources.

• bankruptcy

• consumer

• banker

• scarcity

A monthly plan for how you are going to save and spend your income.

• expenses

• credit

• budget

• liability

paycheck

• anticipated income

• anticipated

  expense

• unanticipated income

• unanticipated expense

bike wreck repairs

• anticipated income

• anticipated

  expense

• unanticipated income

• unanticipated expense

Taylor Swift concert tickets

• anticipated income

• anticipated

  expense

• unanticipated income

• unanticipated expense

graduation money

• anticipated income

• anticipated

  expense

• unanticipated income

• unanticipated expense