Budgeting
Help!
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| Income | The amount of money you earn. This can be through a job or through investments or other means
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| Budget | This is a financial plan that shows the money you expect to receive, and the money you expect to pay out, over a specified time. It can also mean the amount of money you have allocated to spend on a specific purpose
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| Budget Surplus | When income is greater than expenditure.
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| Budget deficit | When expenditure is greater than income.
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| Expenditure | Spening money on goods and services.
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| Fixed income | The same amount of money comes into your account at regular intervals.
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| Irregular income | A different amount of money that comes into your account at different times.
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| Fixed expenditure | Spending the same amount of money at different intervals
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| Irregular expenditure | Spending different amounts of money at different intervals
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| Discretionary expenditure | Spending money on luxury items. This is unnessecary spending.
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| Forecast | A forecast is an estimation or calculation of future costs, ie income or spending that has not yet happened, based on the best information
available.
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| Planned expenditure | Any expenditure that can be predicted.
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| Unplanned expenditure | Any expenditure that is not predicted, such as costs for repairs or medical
fees.
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| Subtotal | The total spending in a budget category, such as irregular expenditure.
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| Net cash | The amount of money left at the end of each budget period, such as per
month. This is a positive figure if income is greater than expenditure, but negative (shown in brackets) if expenditure is greater then income.
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| Opening cash/ balance | The money available at the start of the budget period.
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| Closing cash/ balance | The money left at the end of the budget period.
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
moneysense
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