Lesson 1
Is a plan for how spend your money
What's a budget?
Money recived for work, as a gift, or through invesments.
What is income.
What a person earns after payroll taxes and other deductions are taken out
What is Net income?
A record that summarizes all of the income and outgo over a certain time period
What is Cash Flow Statment?
a spender or a saver
Bad? Good? Why is it mostly good?
Is one of those things that most people should know what to do
What is budgeting
Exspense that remains the same from month to month
What is Fixed Expense?
The amount you earn before taxes and other payroll deductions
What is Gross Income?
Income that comes in at different amounts or at different times, or both
Whatis Irregular Income?
Usally really like the idea of budgeting
what are savers?
Personal finance being 20% head knowledge and 80% behavior.
Do people budget or not?
Expnse that remains the same from month to month
What is Fixed Wxspense
A chas-flow plan that assigns an exspense to every dollar of your income: the goal is total income minus the total exspense to equal zero
What is Zero-Based Budget?
Earnings based on a percenage of the sales made.
What is commission
Dont want to feel restricted about when and where they can spend their money
what are spenders?
Create your budget at the beginning of the month.
What will you'll know exactly what you can afford
Exspense that occorus at various times throughput the year and tends to be in large lumps sums
What is Intermittent Exspense?
Save a 500$ emergancy fund.
What is the first of the five foundations?
If you even have enoguh money to budget right now because you're in high school.
What do you get jobs or weird side jobs for?
Call the shots about where you spend your money.
What is it called when you live alone?
A budget simply shows you what your income is
What is the money coming in?
wxspense for things you dont need
whart is Discretionary ( nonessential) Exspense
get out and stay out of dept
What is the second of the five foundations?
Identified your income and listed out all your expenses.
Have you added it all up?
Someone you know who's good with money will help you make the right decisions about spending and saving.
What are parents for?