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Budgets, Budgets and More Budgets

Budgeting and Money Management

AB
assetsthings of value
liabilitiesdebts owed
net worthassets - liabilities
take-home paygross pay minus deductions
gross paytotal amount earned during a specific period
computerequipment helpful in maintaining a budget
savingssafeguard against unexpected expenses
setting goalsfirst step in preparing a budget
budgeta plan for using your money
money managementprocess of planning how to get the most from your money
fixed expensessame amount, paid every month
variable expensesamount varies; person has some control over
statement of net worthshows financial state of a person
mortgageexample of fixed expense
groceriesexample of variable expense
setting goalsfirst step in planning a budget


Mrs. Robinson

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