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8.03Personal Finance

Managing income and expenses

TermDefinition
Income Money earned from wages, salaries, tips, withdrawals from savings, interest earnings, scholarships, sales of properties or possessions, gifts, etc.
Expense Money spent for both fixed and flexible expenses; an expenditure.
Anticipated An amount of income or expense that is expected, planned, or projected.
Actual An amount of income or expense that was really earned or spent.
Fixed Expense An expense that is due by a certain date, often agreed upon n a contract, and difficult to change in a short time.
Flexible Expense An expense that is not due by a certain date and is easy to reduce or eliminate.
Created by: correaab1