Budget
What is a budget?
what is a plan for how to spend and save money.
What is gross pay?
what is money earned before taxes.
What is the 50/30/20 budget?
what is a budget dividing money into needs, wants, and savings.
What is a residential lease?
what is a contract for renting a place to live.
What does unit price help shoppers do?
what is compare prices to find the best deal.
What are needs?
what is things necessary to live, like food and housing.
What is net pay?
what is take-home pay after taxes.
What is the Pay Yourself First strategy?
what is saving money before spending on other things.
Name one housing cost besides rent.
what is utilities, internet, or water.
Name one way to save money grocery shopping.
what is use coupons or compare prices.
What are wants?
what is things that are nice to have but not necessary.
What is a fixed expense?
what is an expense that stays the same each month.
What is a Zero-Based Budget?
what is a budget where every dollar has a job.
What are utilities?
what is services like electricity, heating, and water.
What is a budget deficit?
what is spending more money than you earn.
Why is budgeting important?
what is it helps avoid overspending and helps save money.
What is a variable expense?
what is an expense that changes month to month.
What is the Cash Envelope Budget system?
what is using cash envelopes for spending categories.
Why do rural areas rely more on cars?
what is they usually have less public transportation.
What is a budget surplus?
what is spending less money than you earn.
What is an emergency fund?
what is money saved for unexpected expenses.
one example of a variable expense.
what is gas, groceries, or entertainment.
Which budgeting strategy tracks every dollar spent?
what is zero-Based Budgeting.
Name one fixed cost of car ownership.
what is car payment or insurance.
Why is public transportation cheaper than owning a car?
what is it reduces gas, insurance, and maintenance costs.