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Gen. Business-Budget
Budgeting
| Question | Answer |
|---|---|
| Annual | Once a year |
| Bills | Things you have to pay |
| Bi-weekly | Every other week |
| Budget | A plan for spending your money |
| Clothing | Necessity; something you have to have. |
| Estimate | Guess |
| Expense | Something that has to be paid |
| Federal tax | Money out of your checks that goes to Washington, D.C. (government) |
| Fixed | Something you pay that is always the same every month (Rent, mortgage, insurance) |
| Flexible | Something you pay that is different every month (Groceries, electric bill, gas, heat,a.c.) |
| Goals | An achievement; something you want to accomplish |
| Gross pay | Your pay before deductions are taken out |
| Impulse buying | You buy on the spur of the moment without thinking about it |
| Income | Money that you earn or get every month |
| Leisure | Things you like to do in your free time |
| Luxuries | Want; something you don't really have to have (Corvette) |
| Monthly | Once a month |
| Mortgage | House payment; paid monthly |
| Necessities | Things you need or have to have |
| Needs | Things you have to have to survive (Food, water, shelter, clothing) |
| Net Pay | Money you take home after deductions are taken out |
| Payment | A bill you have to pay |
| Priority | Something that you have to take care of first, second, third |
| Quarterly | A bill that has to be paid four times a year |
| Receipt | Proof that you bought an item |
| Responsibility | Things you need to take care of independently |
| Salary | The yearly amount you make from your job |
| Savings | Extra money put away for emergencies, vacations, or other things you want |
| Semi-annual | Every six months; twice a year |
| Social security | F.I.C.A.; money saved for retirement |
| State tax | Taxes paid to Minnesota (taken out of your checks) |
| Take home pay | Net pay |
| Tuition | Money paid for college |
| Utilities | Bills such as water, gas, electricity, heat |
| Wages | Hourly rate that you earn from a job |
| Wants | Things you desire (Flat screen T.V., K.F.C., Chevy....) |
| Weekly | Every seven days or once a week |
Created by:
special education
Popular Business sets