Vocab
Income
Things you would like but you can do without
wants
405.75
+ 395.25
801.00
What was Tracy's greatest expense for the month?
Rent
Go to page 7 and answer number 3.
31.03
Things you must have, such as food
needs
fixed expenses
300.50
x 8
2404.00
How much more did she spend on food than clothing?
40.32
Go to page 13 and answer number 8.
246
When you spend money on something that you need or want.
expense
Services such as electricity, gas, and water.
Utilities
1650/5
330
What is the total of Tracy's expenses?
1160.81
Go to page 5 and answer number 3.
nail polish, pizza, movie, sweater.
An organized chart used to list things you spend money on for a certain period of time.
expense record
The difference between your income and your total expenses is:
savings
5209
- 345
4864
Tracy's income is $1,194.83 a month. Is this enough to cover her total expenses?
Yes
Go to page 11 and answer number 1.
491
variable expenses
215.50
x 35
7542.50
If your income is $998.00, would you be able to afford the same expenses as Tracy?
no
Go to page 15 and answer number 2 under Maintaining skills.
109