venture

Budget #4

A balanced budget typically includes the amount you earn income, the amount you pay in taxes, the amount you put away in savings.

A Budget#1

A budget considered to be balanced when the amount you spend is equal or less then the amount you earn.

Fixed expense #2

A fixed expense an expense that typically does not change month to month.

Variable expense #2

A variable expense an expense that typically does not change month to month.

NEED

An example of NEED is a warm winter coat, a place to live, critical medicine.

WANT

Examples of a WANT are a new pair of headphones, designer shoes, your favorite candy, and movie tickets.

Federal taxes

Federal taxes are payments you make the US federal government.

variable expenses #1

Groceries, clothing, and movie tickets are variable expenses.

before things

If you spend money on things you want before things you need, you limit your ability to save for high-priced items, like higher education.

budget #2

In a balanced budget, the amount you spend is equal to the amount you spend to the amount you earn.

Income

Income is Income is money you earn, usually from working at job.

Medicare

Medicare is federal health insurance for people over age 65.

Startup capital #1

One way to begin saving startup capital is to set aside a portion of your income each month.

fixed expenses #1

Rental payment, Internet service, and the cell phone bill are fixed expenses.

Social security

Social security and medicare are examples of a tax you must pay.

Startup capital #2

Startup capital is the money you invest in the form of supplies, marketing, legal services, and other investments to get your business up and running.

Take home pay

Take home pay is the amount left over from your monthly paycheck after deductions.

Taxes

Taxes are mandatory payments you make to state and local governments.

Budget #3

when creating a personal budget, it is important to consider things you need, before the things you want.