| A | B |
|---|
| Renting | A rental agreement provides for a tenancy of a short period (often 30 days) that is automatically renewed at the end of the period unless the tenant or landlord ends it by giving written notice. |
| Wants | Have a desire to possess or do (something); wish for. |
| Fixed Expenses | Fixed expenses do not depend on your consumption of a good or service. A fixed expense is a cost that does not change from period to period or that changes only very slightly. Fixed expenses are usually paid on a regular basis, such as week to week, month to month, quarter to quarter or year to year. |
| Variable Expenses | Variable expenses change depending on your consumption of a good or service. A variable expense is a cost that changes significantly from period to period, such as week to week, month to month, quarter to quarter or year to year. |
| Discretionary Income | The amount of an individual' goods and services. |
| Needs | Something that is necessary for an organism to live a healthy life. |
| Income | Money received, especially on a regular basis, for work or through investments. |
| Financial Plan | A comprehensive evaluation of an investor's current and future financial state by using currently known variables to predict future cash flows, asset values and withdrawal plans. |
| Budget | is a list of all planned expenses and revenues. It is a plan for saving and spending. |
| Leasing | A written lease, on the other hand, gives a renter the right to occupy a rental unit for a set term -- most often for six months or a year but sometimes longer -- as long as the tenant pays the rent and complies with other lease provisions. |
| Short Term Goals | something that a person wants to achieve in the near future, which they are working towards |
| Long Term Goals | are achieved much further in the future. |
| Budgeting Steps | Budget for Emergencies Identify Variable Expenses |
