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Budget Vocabulary

TermDefinition
Zero-Based Budget having each item justified on the basis of cost or need
Fixed Expenses remains constant and does not vary with short
Variable Expenses fluctuates directly with changes in output
Income a gain or recurrent benefit usually measured in money that derives from capital or labor
Need a physiological or psychological requirement for the well
Want to have a strong desire for
Disposable Income income that is left after paying taxes and for things that are essential, such as food and housing
Financial Plan a comprehensive evaluation of an individual´s current pay and future financial state by using current known variables to predict future income, asset values, and withdrawal plans
Assets the entire property of a person, association, corporation, or estate applicable or subject to the payment of debts
Liabilities something which one is obligated to pay
Net Worth the excess of the value of assets over liabilities
Capital relating to or being assets that add to the long
Surplus the amount that remains when use or need is satisfied
Budget the amount of money that is available for, required for, or assigned to a particular purpose
Created by: ellieadams
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