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Chapter 3
Flash Cards
Term | Definition |
---|---|
Expenditures | Items you spend money on |
Budget sheet | A sheet that records your expenses usually on a monthly basis |
Recordkeeping | A way to manage your money |
Living expenses | Amounts for food, utility bills, and pocket money |
Budget | A plan for spending money in a way that best meets your wants and needs |
Fixed expenses | Expenses that do not vary from month to month |
Annual expenses | Expenses that occur only once a year |
Expense summary | Amount spent versus amount budgeted |
Emergency fund | Extra money set aside for unexpected expenses |