Income vs Expense

Front

What is an Expense?

Back

An expense is money that you spend to buy things or pay for services.

Front

What is Income?

Back

Income is money that you earn or receive, such as from a job or a bonus.

Front

What happens when you buy groceries?

Back

Buying groceries is an example of an expense.

Front

What does it mean to spend money?

Back

To spend money means to give it to someone else in exchange for something.

Front

What is an example of Income?

Back

Mowing a neighbor's lawn and getting paid is an example of income.

Front

What is an example of an Expense?

Back

Riding the bus is an example of an expense.

Tags

NGSS.HS-ETS1-3

Front

What is a bonus?

Back

A bonus is extra money received, often as a reward for good work.

Front

Why is it important to track Income and Expenses?

Back

Tracking income and expenses helps you understand your financial situation and manage your money.

Front

What is a budget?

Back

A budget is a plan that outlines how much money you expect to earn and spend.

Front

What is the difference between Income and Expense?

Back

Income is money you receive, while expense is money you spend.