CM: 3.3A Using a Budget

Money that you earn.

• Asset

• Expense

• Income

What is an expense?

• Money that you spend or give away.

• Money that you earn.

• Money that you put away for later.

Money that you put away or in a bank for the future.

• Expense

• Savings

• Income

Money that you put away or in a bank for the future.

• Expense

• Savings

• Income

What is overspending?

• Using money you get to spend.

• Using more money than you have available.

• Using money you have in the bank.

A plan for spending and saving.

• Budget

• Savings

• Income

An expense that does not change from month to month.

• Variable expense

• Fixed expense

• Unexpected expense

Something thought to be an essential item required for life (food, water etc.).

• Need

• Want

• Desire

Something unnecessary but you desire.

• Need

• Want

• Expect

Money earned after taxes and other deductions.

• Net income

• Gross income

• Monthly income