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Budgeting and saving

TermDefinition
Budget An itemized summary of probable expenditures and income for a given period.
Deficit The amount by which expenditures exceed income.
Fixed expense An unchanging expenditure.
Flexible expense An expenditure that varies
Income Money received.
Irregular income Money received from gifts, odd jobs, and so on.
Savings Money that is not spent.
Surplus The amount of money remaining after all expenses have been met
Take-home pay Money received after all adjustments and deductions are made.
Unexpected expense An unforeseen cost.
Created by: mmetzger38
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