Words
Wants
Desired items.
Money you earn after taxes and deductions.
Net Income
Newest iPhone, cute shoes, tattoo
Want
Money
Object accepted as payment.
Money you earn before taxes and deductions.
Gross Income
Needs
Items you must have to survive.
Things we spend money on.
Expenses.
Shelter, food, transportation to get to work.
Need
Savings
Money set aside for the future.
Money paid to government.
Taxes
Budget
Total amount of money needed for a particular purpose.
Total amount of money needed for a purchase.
Budget
I paid a lot of money to buy a mint condition 1964 Black Panther comic book because I know I will sell it for more money it in the future.
Investment
Taxes
Money paid to government.
Amount of money subtracted from your paycheck.
Deduction
Income
Payment for a good or service earned over time.
Income and expenses a person must balance.
Personal Finances
The __________ income I take home is always less than what I really earned.
Net
Credit
Borrowing money and paying it back, usual with interest.
Expenses not paid every month.
Periodic expenses
Money management.
The process of balancing finances.
Expenses you buy every month.
Fixed expenses.
My charge card allows me to buy on _____________ now, and pay it back later.
Credit
Periodic Expenses
Expenses not paid out every month.
Expenses that change.
Variable expenses