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Budget
| Term | Definition |
|---|---|
| Zero-based budget | a method that has you allocate all of your money to expenses for needs and wants |
| Fixed Expenses | a cost that's typically constant |
| Variable Expenses | change from month to month |
| Income | money received, especially on a regular basis, for work or through investments |
| Need | require (something) because it is essential or very important. |
| Want | have a desire to possess or do (something); wish for. |
| Disposable Income | income remaining after deduction of taxes and other mandatory charges |
| Financial Plan | a document that details a person's current financial circumstances and their short- and long-term monetary goals |
| Assets | a useful or valuable thing, person, or quality |
| Liabilities | something a person or company owes, usually a sum of money |
| Net Worth | the value of the assets a person or corporation owns, minus the liabilities they owe |
| Capital | assets needed by a company to provide goods or services, as measured in terms of money value |
| Surplus | more than what is needed or used; excess |
| Budget | an estimate of income and expenditure for a set period of time |
Created by:
s.ahzoria
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