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Budgeting (8th)

AB
incomewhat you get paid (from a job, allowance, gift, etc)
expenseswhat you spend or buy (clothing, jewelry, food)
variable expensesexpenses that change from time to time (utility bills, groceries)
fixed expensesexpenses that stay the same (rent, mortgage, loan payment)
wantsthings we desire (corvette, diamond ring, boat)
needsnecessary things (food, clothing, water)
budgeta spending plan (spend 70%, save 20%, charity 10%)
goodstems purchased to satisfy wants and needs (food, clothing, furniture, etc)
servicesactivities provided for you by other people (barber, dentist, doctor, lawn care, waiter, etc)



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