Budget Vocabulary

Plan on how to spend and save money.

• bank

• budget

• checking account

money you earn from a job

• bills

• paycheck

• budget

Tags

CCSS.RI.3.10

CCSS.RI.8.4

CCSS.RI.11-12.4

CCSS.RI.9-10.4

CCSS.RI.4.10

An example of this would be your rent or mortgage payment every month.

• flexible expense

• variable expense

• fixed expense

Which of these would be fixed expenses?

• monthly rent or mortgage payment

• grocery bill

• gas for your car

• electric bill

Check all that you would consider flexible expense.

• monthly rent

• food

• utilities bill (electric, heat)

• entertainment expenses

An example of this would be the money you spend on movies and video games every month.

• flexible expense

• deduction

• fixed expense

• income

What is INCOME?

• Money you earn or regularly receive

• Money you spend on things you need and want

• Money you win at a game

What is GROSS INCOME?

• Money you earn before deductions and taxes are taken out

• Money you receive on your paycheck after deductions and taxes

What is NET INCOME?

• Money you earn before deductions and taxes are taken out

• Money you receive on your paycheck after deductions and taxes

Ralph's gross pay was $1200 , after deductions of $450, how much was his net pay?

• $1650

• $750

• $450

• $350