Bank
a sum of money placed or kept in a bank account
Deposit
It helps to set these when doing a budget
Goals
Money coming in
Income
Things that you have to have to survive
Needs
Payment
Money exchanged for goods or services
an act of taking money out of an account
Withdrawal
Spending less than you have
Under budget
Money going out
Expenses
You don't need these, but they might make life more fun and interesting
Wants
Rent or Mortgage: Fixed or Variable?
Fixed
a place where you can store cash securely
bank/savings account
Expected Income and Expenses for a family or individual
Personal/Household Budget
A plan for using money
Budget
When you budget, you need to list your ________
and your __________
Income and Expenses
Groceries: Fixed or Variable
Variable
A bank account that you can use for money or write CHECKS out of
Checking Account
Spending plan for a specific event
Event Budget
Money you don't spend that is set aside for something
Savings
Fixed Expenses
There are bills that don't change month to month (typically)
Food and Water: Want or Need?
Need
If you spend more money than you have
Over budget/Over spending/Overdraft
City, state, or federal balancing of spending
Government Budget
The piece of mind you feel when you are not worried about money
Financial Security
Variable Expense
can change month to month based on usage
What does nonessential mean?
You don't need it