Budgeting Basics
What is a plan for managing income and expenses?
a budget
Food, housing, and utilities fall under this essential category of spending.
What are needs?
What is tuition, food, transportation, housing, etc.
This simple action helps you discover how small purchases can add up quickly.
What is tracking your spending for a week?
This type of service helps you organize spending and track your money on your phone.
a budgeting app
Total your income, total your expenses, and them amake sure your budget is __________.
What is balanced?
The tuition and fees deduction can reduce the amount of your ________ subject ot tax by up to $4,000.
A sale where you save money by buying items at a lower price than usual.
What is a discount of clearance sale?
What’s the term for spending more money than you earn?
budget deficit (or overspending)
This category should be included in every budget for emergencies
savings
This type of aid must be repaid with interest after graduation.
What is student loan?
If you don’t need it and can’t afford it, it’s called this kind of purchase.
an impulse buy
The opposite of fixed expenses, these change each month.
variable expenses
Buying coffee every day is an example of this type of spending.
What is discretionary spending (or a non-essential expense), wants?
College campuses often offer this type of store to help students with food.
What is food pantry (care closet)?
This budgeting habit means saving money before spending.
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