Budgeting Vocab

• The amount of money you bring home each month regularly after taxes are taken out of your check. 

• Budget

• Income

• Taxes

• Savings

Amount of money you spend each month

• Expenses

• Income

• Investing

• Overdraft

Expenses that must be paid every month.

• Fixed Expenses

• Expenses

• Taxes

• Flexible Expenses

Extra cost such as entertainment, vacation, and fun.

• Necessary expenses
• Fixed expenses
• Flexible expenses

• Expenses

has a specific date it matures, earns highest level of interest, fee is charged for withdrawing money early

• Savings Account
• Checking Account
• Certificate of Deposit (CD)

• Money Market Account

Let you buy into corporate profits

• Stocks

• Bonds

• savings account

• Purchasing real estate

Requires a small deposit, but you still have easy access to your money

• Savings Account
• Deposit

• Investments

• Stocks

insures your money up to $100,000 at each bank

• Federal Deposit Insurance Corporation (FDIC)
• Federal Reserve System
• Internal Revenue Service (IRS)
• Securities and Exchange Commission (SEC)

Retirement plan sponsored by your employer

• 401(k) Plan
• Savings Account
• IRA

• Stocks

Make sure you keep your account balanced so that you do not spend more than you have in your account, or you may be charged an __________ fee