Fast and Curious Personal Finance Ch 4 Budgets and Records

An expense that differs from month to month.

• Income

• Fixed Expense

• Variable Expense

• Budget

An expense that is the same amount and cannot easily be changed.

• Income

• Fixed Expense

• Variable Expense

• Budget

A plan that is used to determine how money will be spent.

• Income

• Fixed Expense

• Variable Expense

• Budget

Non-essential expenses

• Variable

• Fixed

• Discretionary

• Intermittent

money that a person earns by working or investing

• interest

• credit

• income

• insurance

items/activities that subtract money from your account to remove and amount

• debit

• credit

• savings

• insurance

items/activities that add money to your account

• debit

• credit

• interest

• savings

 A valuable resource that is owned by a person, company, or government in order to get an economic benefit.

(a)  

A plan of your expected income and how you will use it to meet your expected expenses over a period of time

• Plan

• Budget

• Statement

• Income

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

• Wants

• Cost of Living

• Needs

• Variable Expense