What is a Budget?
Net Income
Amount money earned after payroll taxes
Goals
Those things you aim for that take planning and work
Gas
variable expense
medical repairs
variable expense
clothing
variable repairs
Lifestyle
A person's pattern of living as expressed in his or her activities, interests, and opinions
budget
A plan for making and spending money
Gross Income
Amount of money earned before payroll taxes
Need
Basic requirement for survival
fixed expenses
Costs that do not change from month to month
irregular expenses
Expenses that are not paid regularly each month. Also referred to as unexpected expenses.
Want
an item that we desire but that is not essential to survival
variable expenses
expenses that change from month to month
Rent
fix expense
subscriptions
fixed expense
College tuition
irregular expense
Lawn care
irregular expense
car repairs
irregular expense
income
money received, especially on a regular basis, for work or through investments.
financial
relating to money