Ramsey Chapter 2 vocab

Front

A cash-flow plan that assigns an expense to every dollar of income; total income minus total expense equals zero.

Back

Zero-Based Budget

Front

Income that varies in amount or timing

Back

Irregular Income

Front

Earnings after taxes and deductions; often called take-home pay.

Back

Net Income

Front

Expense for things you don’t need

Back

Discretionary Expense

Front

Expense occurring at various times in large sums

Back

Intermittent Expense

Front

Amount earned before taxes and deductions

Back

gross income

Front

Money received for work, gifts, or investments

Back

Income

Front

A written plan for giving, saving, and spending

Back

budget

Front

Expense that remains the same monthly

Back

Fixed Expense

Front

Record summarizing income and spending over time

Back

Cash-flow statement