unite 7 vocab

2. a budgeting system that focuses on discretionary spending—basically the money that's left over after necessities and fixed expenses like rent are paid
4. the amount of money an employee receives from a company before any deductions—such as health insurance, taxes, or student loan payments—are taken out.
6. reflects decisions to tax and spend, to borrow and lend, and to consume and invest
9. an estimate of income and expenditure for a set period of time
10. money received, especially on a regular basis, for work or through investments.
13. The idea is to divide your income into three categories, spending 50% on needs, 30% on wants, and 20% on savings
14. Federal Insurance Contributions Act and is deducted from each paycheck
16. using money for nonessential expenses like dining out, shopping, entertainment and subscription services
17. the amount by which something, especially a sum of money, is too small.
18. the level of prices relating to a range of everyday items.
19. the cost required for something; the money spent on something.
20. secured loans where the vehicle itself is used as a collateral

1. when revenues are equal to or greater than total expenses
3. covers damage or loss by theft and against perils which can include fire, and storm damage. It also may insure the owner for accidental injury or death for which the owner may be legally responsible.
5. a contract between you and the insurance company that protects you against financial loss in the event of an accident or theft.
7. the action of spending funds.
8. an upper limit set on the amount of money that a government may borrow.
11. allows you to drive a vehicle from a dealership for an agreed upon amount of time and miles, and pay for its usage rather than for the full purchase price of the vehicle.
12. the use of government spending and taxation to influence the economy
15. costs that largely remain constant
17. the action of deducting or subtracting something.