Budget

Front

What does a budget compare?

Back

Income and Expenses.

Front

What is a fixed expense?

Back

An expense that does not change, such as rent.

Front

What is a variable expense?

Back

An expense that can change, such as groceries.

Front

What is discretionary spending?

Back

Spending on non-essential items, such as entertainment.

Front

What is the purpose of a budget?

Back

To plan and track income and expenses.

Front

What is income?

Back

Money received, typically from work or investments.

Front

What are expenses?

Back

Money spent on goods and services.

Front

What is a monthly budget?

Back

A plan that outlines expected income and expenses for a month.

Front

What is the difference between income and savings?

Back

Income is money received, while savings is money set aside for future use.

Front

What is the formula for calculating the percentage of a budget?

Back

(Part/Whole) x 100.