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Stack #3324381

Household Budget

QuestionAnswer
Income Money earned
Net cash Total income less total expenditure
What is a budget It is a plan of future income and expenditure
What is budget deficit Planned expenditure exceeds planned income
Benefit in kind Company Car, Car Parking
Irregular expenditure Items where the cost does change according to use e.g. phone, esb etc...
Budget surplus Total income is greater than total expenditure
Fixed expenditure Items where the cost dos not change according to use
Discretionary Trip to Disney Land
Perk When an employer pays your phone bill
Budgeting The process of matching your expected income with your expected expenditure for a particular period
Created by: Andyiati
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