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Urbana-Alt.Spending

Alternative to quizlet

QuestionAnswer
fixed expense an expense that stays the same each month
flexible expense an expense that changes every month
periodic expense an expense that happens only every so often or at the end of a time period
spending plan a financial statement used to assist with money management
gross income total amount of money earned before taking taxes out
net income take home pay or income after taxes are deducted
major expenditures savings, housing, transportation, insurance & food
10% Amount you should put in savings each pay period
pay yourself first rule to help you create savings
7% maximum amount spend on insurance
30% maximum amount spent on housing
20% Maximum amount spent on transportation
15% maximum amount spent on Food
Created by: sfleece
Popular Family and Consumer sets

 

 



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