PF Chapter 2 Vocab

A written plan for giving, saving, and spending

• Report

• Budget

• Cash flow statement

• Goals

Money received for work, as a gift, or through investments

• Pay

• Wage

• Income

• Salary

Expense that remains the same from month to month

• Discretionary Expense

• Intermittent Expense

• Variable Expense

• Fixed Expense

Expense that varies in dollar amount from month to month but that you can expect to have every month

• Discretionary Expense

• Intermittent Expense

• Variable Expense

• Fixed Expense

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

• Discretionary Expense

• Intermittent Expense

• Variable Expense

• Fixed Expense

Expense for things you don't need

• Discretionary Expense

• Intermittent Expense

• Variable Expense

• Fixed Expense

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

• Income Statement

• Zero-Based Budget

• Budget

• Cash Flow Plan

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

• Net Income

• Gross Income

• Salary

• Wage

The amount you earn before taxes and other payroll deductions

• Salary

• Net Income

• Gross Income

• Wages

A record that summarizes all of the income and outgo (spending) over a certain period of time (what has already happened with your money)

• Cash-Flow Statement

• Zero-Based Budget

• Income Statement

• Expense Report