Components of a budget
Building a Zero-Based Budget
The Five foundations
Budgeting Basics & Habits
The benefits of budgeting & tracking your expenses
100

Expense that stays the same month to month

What is a fixed expense 

100

 A cash-flow plan that assigns an expense to every dollar of your income; the goal is for the total income minus the total expenses to equal zero

What is Zero based-budget

100

Saving 500 dollars incase of emergency 

What is the first foundation 

100

income that comes in at different amounts or at different times, or both. 

What is a Irregular Income

100

A plan you have for your money

What is a budget

200

Expense that varies in dollar amount from month to month but that you can expect to have every month 

What is a variable expense

200

what a person earns after payroll taxes and other deductions are taken out; often referred to as take-home pay

What is Net income

200

Get out and stay out of debt

What is the second foundation 

200

earnings based on a percentage of the sales made

what is Commission

200

What percent of students who complete a personal finance course create a monthly budget for their money.

What is 80%

300

Expense that occurs at various times throughout the year, and tends to be in large lump sums. 

What is a intermittent expense. 

300

the amount you earn before taxes and other payroll deductions

What is a Gross income 

300

Paying cash for your car

What is the third foundation

300

 a “set it and forget it” activity

What is Budgeting. 

300

 a record that summarizes all of the income and outgo (spending) over a certain time period

What is a Cash-Flow Statement

400

Expense you don't need. 

What is a Discretionary expense 

400

Using pencil and paper or apps for budgeting. 

What is setting up your zero-based budget

400

Paying cash for college 

What is the fourth foundation 

400

 a written plan for giving, saving, and spending

What is a budget.

400

Collect all your receipts each day and update your budget

What is tracking your budget. 

500

Money received from work, as a gift, or through investments. 

What is Income

500

 Saving an emergency fund, paying cash for a car, and paying cash for college

What is acts of the five foundations. 

500

Building wealth and giving

What is the fifth foundation 

500

Biggest wealth-building tool

What is your income 

500

Use cash for categories you tend to overspend on

What is The Envelope System. 

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