Budgeting Terms

2. Discretionary outlays for wants rather than needs.
4. financial plan that tracks income and sets spending limits.
5. A predictable financial outflow like rent or insurance that stays the exact same amount every billing cycle.
8. food and household items bought at a store.
10. Unavoidable costs for basic needs.
13. A _________ occurs when total income or revenue is greater than total spending or expenses.
14. A loan used to buy a house where the property acts as safety for the money borrowed

1. Costs that go up and down each month based on how much you use or buy
3. when a government or group spends more money than it takes in.
6. Essential home services like water and power.
7. A spending plan where your total income minus all expenses and savings equals zero, meaning every single dollar is given a specific job.
9. Money you receive from work or investments.
11. Money kept safe for the future instead of being spent right now.
12. Cash saved for unexpected surprise bills.