Budgeting Vocab

A plan for income and expenses for a specific amount of time.

• Budget

• Emergency fund

• Expenses

• Gross Pay

A savings or safety net for unexpected expenses such as job loss.

• budget

• emergency fund

• expense

• gross pay

Cost required for something

• budget

• emergency fund

• expense

• gross pay

Amount of money earned before deductions (taxes and insurance)

• gross pay

• income

• net pay (take home pay)

• taxes

Money earned or received

• gross pay

• income

• net pay

• loan

Health Insurance

• helps to provide coverage towards medical bills

• money that can be borrowed and paid back with interest

• a required contribution to the state and federal government

• money brought in after insurance and taxes are taken out of gross pay

Loan

• Money can be borrowed and paid back with interest

• a required contribution to the state and federal government

• a savings or safety net for unexpected expenses such as job loss

• amount of money earned before deductions

A required contribution to the state and federal government

• gross pay

• net pay

• taxes

• budget

money brought in after insurance and taxes are taken out

• net pay

• gross pay

• income

• expense