lessons 2.1 & 2.2
The percentage of Americans who make and use a budget
what is 35%
The best kind of budget
what is a zero-based budget
a record that summarizes all of the income and outgo (spending) over a certain time period
what is a cash flow statement
a plan for how you spend your money
what is a budget
when your income minus your expenses equals zero
what is a zero-based budget
using cash for categories you tend to overspend on
what is the envelope budgeting system
fixed, variable, intermittent, and discretionary are labels for
what is the 4 kinds of expenses
give every dollar a job to either be given, spent, or saved
what is the point of a budget
moving money between budget categories
what is what you should do when you overspend in a budget category
income, giving, saving, and spending
what is the parts of a budget
what a person earns after payroll taxes and other deductions are taken out; often referred to as take-home pay
what is net income
The percentage of your income that should be allocated to giving
what is 10%
the amount you earn before taxes and other payroll deductions
what is gross income