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Budgeting Terms

from Biz Kids 116

TermDefinition
budget A spending plan for managing money during a given period of time
debt Something owed to another - an obligation to pay
expenses Amounts of money spent to buy goods and services
fixed expenses Expenses where the amount that you pay each time is the same
flexible Able to be modified or adapted, something that can be changed easily
income Money earned through employment and investments
money management The process of using a financial plan to control your money
overdraft The act of spending more money than you actually have
periodic expenses Costs that do not occur on a monthly basis
variable expenses Costs that change in amount each time they are paid
Created by: angitwo