Financial Management

2. Expenses Regular, consistent costs like rent or insurance that don’t change month to month.
3. Deficit When expenses exceed income during a specific period.
4. The money you spend on goods, services, or obligations.
5. A plan for managing income and expenses over a specific period.
6. Budget A budgeting method where every dollar of income is assigned a purpose, leaving zero unallocated.
8. Food and household items purchased for everyday living.
9. Expenses Costs that change each month, like groceries or fuel.
12. Spending Spending on non-essential items like entertainment, hobbies, or luxury goods.
13. Setting aside money for future use instead of spending it.
14. The money you earn or receive, such as from a job or benefits.

1. Spending Money spent on essential items like food, shelter, and healthcare.
5. Surplus When income exceeds expenses during a specific period.
7. Fund Money saved to cover unexpected expenses like medical bills or car repairs.
10. Payment A monthly payment toward a home loan, including interest and principal.
11. Essential services like electricity, water, gas, and internet.