Budget Categories
Used for necessities with a fixed price, such as rent.
What is a fixed expense?
Income that comes in at different amounts, or at different times.
What is irregular income?
The First Foundation is...
Save a $500 emergency fund.
Generosity with the money you have.
What is giving?
Lesson about the budgeting basics.
What is Lesson 2.1?
Used for necessities with a price that may vary, such as groceries or gas.
What is a varied expense?
Money given to you, such as for your birthday.
What is gift money?
The Second Foundation is...
Get out and stay out of debt.
Where you set aside money for your goals.
What is saving?
Lesson about building a zero-based budget?
What is Lesson 2.3?
Used for periodical expenses that may be unpredictable, such as new tires.
What is an intermittent expense?
Earnings based on how many sales are made.
What is commissions?
The Third Foundation is...
Pay cash for your car.
Everything you use money for- food, rent, gas, etc.
What is spending?
Lesson about budgeting in relationships?
What is Lesson 2.6?
The amount of money coming into your accounts.
What is income?
What a person earns after taxes and deductions.
What is net income?
The Fourth Foundation is...
Pay cash for college.
Any money you receive.
What is income?
Lesson about the components of a budget.
What is Lesson 2.2?
Used for things that you do not need to function, such as eating out or going to the movies.
What is a discretionary expense?
What a person earns before taxes and deductions.
What is gross income?
The Fifth Foundation is...
Build wealth and give.
Lesson about making budgeting a habit.
What is Lesson 2.5?