Budgeting Basics Flashcard

Front

What is a budget?

Back

A plan for managing income and expenses

Front

What is a budget?

Back

A plan for how you spend your money.

Front

What does a budget consist of?

Back

Income and Expenses

Front

What is an example of income?

Back

Paycheck

Front

What does income represent in a budget?

Back

Money earned

Front

What does expenses represent in a budget?

Back

Money spent

Front

Which of the following is NOT considered an expense? Entertainment, Paycheck, Groceries, Rent

Back

Paycheck

Front

Fixed expenses

Back

Expenses with fixed amounts every month

Front

Which of the following is an example of a fixed expense? Groceries, Gifts, Rent, Entertainment

Back

Rent

Front

What are variable expenses?

Back

Expenses that vary every month