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