Budgeting Vocab

a written plan for giving, saving, and spending

• budget

• income

• fixed expense

• variable expense

money received for work, as a gift, or through investments

• zero-based budget

• income

• intermittent expense

• discretionary (nonessential) expense

expense that remains the same from month to month

• gross income

• cash-flow statement

• fixed expense

• net income

expense that varies in dollar amount from month to month but that you can expect to have every month​​​​​​​

• irregular income

• commission

• budget

• variable expense

expense that occurs at various times throughout the year and tends to be in large, lump sums​​​​​​​

• income

• fixed expense

• variable expense

• intermittent expense

expense for things you don’t need

• net income

• gross income

• discretionary (nonessential) expense

• zero-based budget

a cash-flow plan that assigns an expense to every dollar of your income; the goal is for the total income minus the total expenses to equal zero

• commission

• zero-based budget

• cash flow statement

• irregular income

what a person earns after payroll taxes and other deductions are taken out; often referred to as take-home pay​​​​​​​

• net income

• gross income

• budget

• fixed expense

the amount you earn before taxes and other payroll deductions

• fixed expenses

• gross income

• net income

• variable expenses

a record that summarizes all of the income and outgo (spending) over a certain time period

• income

• intermittent expense

• cash-flow statement

• budget