Module 101: An Annual Budget
anticipated income
income that is consistent and is typically received around the same time each month.
budget
A plan for making and spending money
resource
A substance in the environment that is useful to people, is economically and technologically feasible to access, and is socially acceptable to use.
savings
Disposable income not spent for consumer goods.
Income
Earnings from work or investment
Unanticipated expenses
Expenses that are not foreseen and may happen at irregular intervals. Examples can include medical expenses, auto or appliance repairs or losses from natural disasters.
Anticipated expenses
Regular payments that must be made to cover certain regular expenditures. These could include rent, utility bills, and groceries.
Discretionary income
money income left after necessities have been bought and paid for.
Unanticipated Income
money received or earned that is unexpected, whether an inheritance or winning lottery ticket, for example.
Expenses
the cost required for something; the money spent on something.
annual budget
the yearly plan for raising and spending money.