The Benefits of Budgeting
a written plan for giving, saving, and spending
what is a Budget
money received for work, as a gift, or through investments
what is Income
a cash-flow plan that assigns an expense to every dollar of your income; the goal is for the total income minus the total expenses to equal zero
what is Zero-Based Budget
a record that summarizes all of the income and outgo (spending) over a certain time period
what is a Cash-Flow Statement
income that comes in at different amounts or at different times, or both
what is Irregular Income
How many people think budge is a good thing. is it A:56% or B:95%
95%
income, giving, saving, and spending
what are Four Parts of a Budge
get out and stay of debt
The second Foundation
How to Track Your Expenses
spent and subtract it from the budget category
Budgeting will help you reach your money goals, help you talk about money with others, and lead you to become outrageously generous.
what is Relationships and Budgeting
A budget is one of those things that most people know they should do, but few of them actually create and stick to a budget. So, what’s the deal? is it A: they think it limits their freedom B:it gives them freedom to spend money
they think it limits their freedom
expense that remains the same from month to month
what is a Fixed Expense
the amount you earn before taxes and other payroll deductions
what is Gross Income
tracking your expenses, know where to adjust your budget when it needs it
what is a Successful Budgeting
Your biggest wealth-building tool is your income—and the best way to make the most of your income is to A: create a monthly budget B: create a 1 week only budget
create a monthly budget
expense that varies in dollar amount from month to month but that you can expect to have every month
what is Variable Expense
what a person earns after payroll taxes and other deductions are taken out; often referred to as take-home pay
what is Net Income
What happens when You Go Over
you’ll need to adjust your budget for the month
earnings based on a percentage of the sales made
what are Commissions
How many people actually budget? is it A:50% or B:35%, C:76%, D:83%
just pot the number and the %
35%
expense that occurs at various times throughout the year and tends to be in large, lump sums
what is Intermittent Expense
save 500$ emergency fund
what is The first Foundations
use cash for categories that tend to overspend on. Food, gas, entertainment, and shopping
what is a Envelope System
pay cash for college
The fourth Foundations