Budget Vocab

4. Economy, a labor market that relies heavily on temporary positions filled by independent contractors
9. Pay, take-home pay after taxes
10. Price, the price for a service or commodity that includes all extra costs incidental to the item
12. the cost required for something
13. spending plan based on income and expenses
15. Expenses, bills that are the same each month
16. Envelope Budget, assigning spending categories to individual envelopes
18. useful needs a consumer gets/for example gas, water, and electricity
20. the amount left over after requirements have been met
21. Yourself First, pay yourself by putting money in savings before you do another spending
23. budget, all expenses must be justified
24. Payment, initial payment made when something is bought on credit
25. regular pay paid daily or weekly

1. Budget, 50% for needs, 30% for wants, and 20% for savings
2. an abundance of valuable possession
3. amount of something, especially a sum of money is too small
5. Insurance, a form of property insurance that protects tenants living in a rental place
6. is the reduction of income that is able to be taxed
7. something that is not needed
8. Lease, a contract created for the renting of property between landlord and tenant
11. anything people need to survive
14. Pay, the sum of all wages before tax
16. of Living, level of prices relating to a range of everyday items
17. Expense, cost changes as the company produces changes
19. fixed regular payment, typically paid monthly or biweekly
22. paying back the money