WorksheetsRamsey Chapter 2 vocab
Total questions: 12
Worksheet time: 6mins
A cash-flow plan that assigns an expense to every dollar of your income; the goal is for the total income minus the total expense to equal zero
Budget
Cash-Flow Statement
Zero-Based Budget
Fixed Expense
Income that comes in at different amounts or at different times, or both
Intermittent Expense
Irregular Income
Net Income
Emergency Fund
What a person earns after payroll taxes and other deductions are taken out; often referred to as take-home pay
Net Income
Irregular Income
Commission
Income
Expense for things you don’t need
Variable Expense
Intermittent Expense
Fixed Expense
Discretionary Expense
Expense that occurs at various times throughout the year and tends to be in large, lump sums
Variable Expense
Nonessential Expenses
Intermittent Expense
Fixed Expense
The amount you earn before taxes and other payroll deductions
incomeq
gross income
net income
net worth
Money received for work, as a gift, or though investments
Commissary
Gross income
Commision
A written plan for giving, saving, and spending
Zero-based budget
budget
income
fixed expense
Expense that remains the same from month to month
Variable Expense
Intermittent Expense
Fixed Expense
Emergency Expense
A record that summarizes all of the income and outgo (spending) over a certain time period
Cash-flow statement
Commission
Commissary
Ledger
Expense that varies in dollar amount from month to month, but that you can expect to have every month
Commission
Fixed Expense
Intermittent Expense
Variable Expense
Earnings based on a percentage of the sales made.
Commissary
Commission
income
Gross income
