Terms
Is buying food at McDonald's mean money is coming in or out of my bank account?
Coming out/Leaving account
What is a regular expense that does not change or vary from one month to the next?
Fixed expense
Is money I earned from my paycheck mean money is coming in or out of my bank account?
Money coming in
List 2 examples of fixed expenses
Rent/Mortgage
Car Insurance
Health Insurance
What term is the amount of money a person receives after earning their paycheck and/or investing?
Income
What term describes your monthly house payment? Most people have this for 15, 20, 30, or even 40 years?
Mortgage
What are the items you spend money on?
Expense/Expenditure
What is a type of expense that varies or changes each month based on what you buy and spend?
Variable expense
What is a plan for using money in a way that meets your wants and needs
Budget
List 3 examples of variable expenses
Groceries
Clothing
Entertainment money/Hobbies
Personal care money (haircuts, nails, etc.)
Medical care