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Money Management

BTC 28.2

QuestionAnswer
A method of planning to get the most from one's money. Money Manangement
A plan for using your income in a way that best suits your wants and needs. Budget
The actual amount of money that you earn or recieve during a given period. Income
The total amount of money that you earned for a specific time. Gross Pay
Amounts that are taken out of your pay before you recieve your next paycheck. Deductions
Take home pay or your gross pay minus deductions. Net Pay
An amount of money used to buy or do something. Expense
Expenses that are regular and are regularly paid. Fixed Expenses
Expenses that change and can be controlled more easily than fixed expenses. Variable Expenses
The difference between your budgeted amount and the actual amount that you spend. Budget Variance
Extra money that can be spent and/or saved. Surplus
Occurs when more money is spent than is earned or recieved. Deficit
Make practical and effective use of. Utilize
As a consequence; for this reason. Hence
Coming between two things in time, place, order, character, etc. Intermediate
Important, serious, or significant. Major
Created by: zachary_franz