Budgeting Basics

Front

Putting away money for future use or an emergencies

Back

Saving

Front

Estimate of income and expenses for a set period of time (usually a month).

Back

Budget

Front

Total money coming in (pay check) and going out to pay expenses (bills)

Back

Cash Flow

Front

Monthly expenses that do NOT change (same amount every time).

Back

Fixed Expenses

Front

Monthly expenses that do change (different amount every time).

Back

Variable Expenses

Front

Examples of these are: rent, mortgage payment or car payment

Back

Fixed Expenses

Front

Examples of these are: food, gas for car, electric bill

Back

Variable Expenses

Front

When you have more expenses (bills) than you have income (money coming in)

Back

Budget Deficit

Front

When you have more income (money coming in) then you have expenses (bills)

Back

Budget Surplus

Front

Automatically putting money away into savings before spending on anything else?

Back

Pay Yourself First