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PCS Financial Math

Chapter 3 Vocabulary - Recordkeeping

TermDefinition
recordkeeping keeping track of monthly expenses by recording them in a budget sheet
expenditures items you spend money on
budget sheet a record of monthly expenditures
living expenses routine expenses, such as food, utilities, and clothing, that vary from month to month
fixed expenses regular expenses that do not vary from month to month, such as rent and car payments
annual expenses expenses which occur once a year, such as insurance premiums and real estate taxes
expense summary a monthly report that compares the amounts you spend to the amounts you have budgeted
emergency fund extra monies set aside to be used for unpredictable expenses, such as medical bills and vehicle repairs
Created by: Ms.Sala
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