Purple
This is a financial plan that compares your income to your expenses — usually on a monthly basis.
What is a budget?
What cities do Mr. Zilkha's kids live in?
What are New York & Miami?
Mr. Zilkha just entered this sporting competition last April and competed in it for the first time in 38 years.
What is Wrestling?
The math department people have this many total children...
What is 15?
This type of expense stays the same each month — like your car payment or gym membership.
What is a fixed expense?
Monthly payments, Interest, Maintenance, Insurance, Registration Fees, Depreciation, gas
Costs of a car (or to consider before buying a car)
Money you earn from your job or business is known as this type of income.
What is earned income?
You just got your first paycheck, and it’s smaller than expected because taxes and deductions were removed. This is the amount you actually take home — and the starting point for any budget.
What is net pay?
Things like rent and groceries fall into this category, while new clothes and concert tickets do not.
What are needs?
This kind of expense can change each month — like gas, groceries, or going out to eat.
What is a variable expense?
Before renting an apartment, you should expect to pay this up-front cost in case of damage or missed payments.
What is a security deposit?
This budgeting strategy starts by automatically setting aside money for savings — before paying any other bills — as a way to build long-term habits.
What is Pay Yourself First?
After making too many decisions while shopping, you might start grabbing expensive or unnecessary items because of this mental exhaustion.
What is decision fatigue?
Renters are often surprised by these additional apartment costs — things like security deposits, parking fees, and renters insurance.
What are hidden costs of renting?
One major factor to consider when deciding where to live is how much it costs to buy or rent a home — also known as this.
What is cost of living?
Moving to Hawaii might increase this household cost due to older infrastructure and high import prices.
What are utility costs?
In this budgeting method, every dollar is assigned a job before the month even begins — whether that job is paying bills, saving, or investing — leaving you with a balance of zero when finished.
What is a Zero-Based Budget?
Comparing a 9-ounce jar for $4.99 and a 14-ounce jar for $6.59 requires calculating this to find the better deal.
What is the unit price?
A person earning $3,000 per month who allocates $1,500 to needs, $900 to wants, and $600 to savings is likely following this simple percentage-based budgeting method.
What is the 50/30/20 Budget?
Rent and car payments fall into this category of expenses, while groceries and entertainment do not.
What are fixed expenses?
Someone who prioritizes spending on causes they care about — like sustainable products or community events — before allocating money to generic categories is practicing this type of budgeting.
What is Values Based Budgeting?
There has been 27% inflation since 2019 (Covid). I used to make $20 an hour in 2019. What would I have to make to keep my real wage even with what I used to make?
What is $20 * 1.27 = $25.40?
If your paycheck amount stays the same but your grocery bill and gas costs go up, this concept explains why you feel poorer even though your nominal wage hasn’t changed.
What are Real Wages?
According to surveys, the #1 category teens spend money on isn’t tech or clothes, it's...
What is Food?
Budgeting method that starts with long-term goals and savings, then allocates the rest of your income to expenses — essentially flipping the traditional process upside down.
What is Reverse Budgeting?