Ramsey Chapter 2 vocab

A cash-flow plan that assigns an expense to every dollar of your income; the goal is for the total income minus the total expense to equal zero

• Budget

• Cash-Flow Statement

• Zero-Based Budget

• 1. Fixed Expense

1. Income that comes in at different amounts or at different times, or both

• Intermittent Expense

• 1. Irregular Income

• Net Income

• Emergency Fund

1.  What a person earns after payroll taxes and other deductions are taken out; often referred to as take-home pay

• Net Income

• Irregular Income

• Commission

• Income

Expense for things you don’t need

• Variable Expense

• Intermittent Expense

• Fixed Expense

• Discretionary Expense

1. Expense that occurs at various times throughout the year and tends to be in large, lump sums

• Variable Expense

• Nonessential Expenses

• Intermittent Expense

• Fixed Expense

1. The amount you earn before taxes and other payroll deductions

• incomeq

• gross income

• net income

• net worth

1. Money received for work, as a gift, or though investments

• Commissary

• Income
• Gross income

• Commision

A written plan for giving, saving, and spending

• Zero-based budget

• budget

• income

• fixed expense

1.  Expense that remains the same from month to month

• Variable Expense

• Intermittent Expense

• Fixed Expense

• Emergency Expense

A record that summarizes all of the income and outgo (spending) over a certain time period

• Cash-flow statement

• Commission

• Commissary

• Ledger