Creating a Personal Budget

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Across
  1. 3. fixed amount of money to be paid to an employee
  2. 4. nonessential purchases
  3. 5. when expenses exceed income
  4. 11. amount of money paid at a specific rate per hour worked
  5. 13. plan of your expected income and using it to meet your expected expenses
  6. 14. take-home pay
  7. 15. something a person intends to acquire, achieve, or accomplish in the future
  8. 16. any items subtracted from your paycheck
  9. 17. value of the next best alternative that must be forgone because of a decision
  10. 19. total earnings before deductions
  11. 21. costs that remain the same at regular intervals
  12. 23. costs that can change in amounts
  13. 24. items person must have to live or succeed
  14. 25. managing money to reach your financial goals
  15. 26. when income exceeds your expenses
  16. 27. amount of money needed to sustain a certain level of living
  17. 28. goal attained in more than one year
Down
  1. 1. total value of money and other assets, minus debts
  2. 2. financial plan where every anticipated earning is assigned a role to be spent, saved, or invested
  3. 6. financial plan that allocates specific percentages to needs, wants, and savings and debt repayment
  4. 7. goal attained in less than one year
  5. 8. process of calculating how much money you must earn or save and how you will spend it
  6. 9. financial plan where money for all variable spending is taken out in cash and placed in labeled envelopes
  7. 10. money that is earned
  8. 12. giving up one thing for another
  9. 18. automatically saving a specified amount from your paycheck before budgeting
  10. 20. anything you are responsible for paying
  11. 22. specific objectives accomplished through financial planning