BUDGET
MONEY
WORK
FUTURE EXPENSES
MISC
100

Identify the type of budget that uses percentages.

What is the 50/30/20 BUDGET

100
Total earnings before any deductions are taken

What is GROSS PAY

100

A set amount you are paid for every hour that you work; also called hourly pay

What is a WAGE
100

A contract between a tenant and a landlord providing the terms and costs for renting the property

What is a RESIDENTIAL LEASE
100

A type of auto financing that allows you to "rent" a car from a dealership for a certain length of time and amount of miles

What is an AUTO LEASE

200

Expenses that are essential for you to be able to live and function

What are NEEDS

200

Expenses 

What are items or services you pay for, such as rent, groceries, entertainment, bills, etc.

200
Total earnings after payroll taxes and other deductions have been taken out.
What is NET PAY
200
A form of property insurance, available to those signing a lease for an apartment.

What is RENTERS INSURANCE

200

The amount of money needed to sustain a certain level of living, including basic expenses such as housing, food, taxes, and healthcare.

What is the COST OF LIVING

300

If you are under/over in a category of your budget, you have to..

Re-adjust budget to account for that money elsewhere

300

When your expenses exceed your income

What is a DEFICIT

300
An individual who earns money on a per-task basis, usually for short-term work. 

What is A FREELANCER

300
The basis services your home, apartment, or business needs to keep it comfortable and functioning properly.

What are UTILITIES 

300

The cost for one item or measurement that allows it to be easily compared to other similar products to evaluate which is a better deal

What is UNIT PRICE
400
When your income exceeds your expenses and you have money left over

What is a SURPLUS

400

Deductions

What are any items subtracted from your paycheck, including state and federal income taxes.

400
A fixed amount that you are paid over a period of time.

What is a SALARY

400
Expenses that help you live more comfortably. 

What are WANTS

400
When using a 50/30/20 budget, what are some of the optional wants that a person could budget for?

Answers will vary 


What is organization giving/fundraising, beauty, pets, club memberships, sports, entertainment, etc. 

500

A cost that appears irregularly or that changes in the amount

What are VARIABLE EXPENSES

500

A cost that can be expected at regular intervals remains the same amount. 

What are FIXED EXPENSES

500
A measurement of your assets minus your liabilities; also called net worth

What is WEALTH

500
A portion of the total cost of an item, such as a car or house, must be paid at the time of purchase. 
What is a DOWN PAYMENT
500
A budgeting method where every anticipated earnings is assigned a role to be spent, saved, or invested somewhere, so there's no "leftover" money with no purpose

What is a ZERO-BASED BUDGET

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