Budget Vocabulary

Front

What are Variable Expenses?

Back

Expenses that change in cost from month to month.

Tags

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

Front

What are Fixed Expenses?

Back

Expenses that do not change in cost from month to month.

Front

What is a Budget?

Back

A plan that outlines expected income and expenses over a specific period.

Tags

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

What is a Long Term Goal?

Back

Plans that take a year or more to accomplish.

Tags

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

What is a Short Term Goal?

Back

Plans that can be accomplished within a year.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

What is the difference between Wants and Needs?

Back

Wants are things you desire but can live without; Needs are essential for survival.

Tags

CCSS.L.1.6

CCSS.L.3.6

CCSS.L.4.6

CCSS.RL.1.4

Front

What is Savings?

Back

Money that is set aside for future use.

Tags

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

What is Income?

Back

Money received, especially on a regular basis, for work or through investments.

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

What are Examples of Variable Expenses?

Back

Groceries, gas, entertainment, and car repairs.

Front

What are Examples of Fixed Expenses?

Back

Rent, mortgage, and insurance payments.