The "B" Word
What is a budget?
This is the amount of money you take home, or take home pay. (Gross income - deductions = ?)
What is net income?
An expenses that change from month to month is called...
What are variable expenses?
The term for the actual amount of money you have available from wages after taxes and deductions.
What is net income?
In order to create your budget either alone or with support, it is important for you to be ______________!
What is realistic, honest....?
The amount of money that comes in
What is Income?
An income that does not change each month, over an extended period of time.
What is a fixed income?
Name an example (s) of a variable expense.
What are, for example, gas, groceries, entertainment, holiday spending, seasonal spending, take out?
The total amount of money coming in for your budget.
What is total income?
When creating your own budget, name documents that you can gather to help get ready.
What are, for example, pay stubs, direct deposit notices, receipts, bills, band & credit card statements and loan documents?
The amount of money that goes out each week/month
What are expenses?
The amount of money you earned before any deductions.
What is gross income?
Expenses that do not change much from month to month.
What are fixed expenses?
Name an example(s) of income other than your wages from work.
What are, for example, all money received from government benefits, tips, self employment activities and interest on savings or investments?
If you do not know the exact expense, you can write an ________________.
What is an estimate?
A budget in which income and expenses are equal.
What is a balanced budget?
In Canada, name an example(s) of a deduction made from the money you earned (paycheck).
What is EI or CPP?
Name an example(s) of a fixed expense.
What are rent, mortgage, utilities, insurance, car payment?
Name an example of an expense category that could be used in your budget?
What are Housing Expenses, Transportation Expenses, Living Expenses and Personal Expenses?
A smart tip in saving is to pay _________ first.
What is pay yourself first?
You will learn how to make a plan for your money, so you can plan for your ____________.
What is future?
What is provincial disability, Canadian pension plan (CPP) or social assistance (GIS)?
A printed statement showing things that you bought and the price you paid for them.
What is a receipt?
The total amount of money going out on your monthly budget.
What are monthly expenses?
When your expenses are greater than your income, you need to _______________.
What is revise your budget?