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Definition
| A spending plan for managing money during a given period of time. |
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| Movement of money you receive and the money you spend. |
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| The willingness to give up something you want now in order to get something better in the future. |
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| An amount of money spent to buy something or do something. |
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| The process of setting spending priorities, defining goals and developing a plan to achieve them, and then putting the plan into action. |
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| Expenses that cost the same amount every time. |
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| A statement of something a person wants or needs to do. |
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| The total amount of income from wages before any payroll deductions. |
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| A rise in the cost of goods and services. |
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Definition
| A payroll deduction collected by employers by law and sent to the federal government to provide medical insurance to the elderly and to some disabled Americans. |
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| Things we must have to survive; for example food, clothing, water, shelter, transportation. |
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Term
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Definition
| Also called "take-home pay"; it's the amount of income left after payrool deductions. |
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Term
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Definition
| The value ofwhat is given up when you choose one option over another. |
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Term
| Pay Yourself First (P.Y.F.) |
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Definition
| Taking a certain amount of all money you receive and saving it to be used for spending on longer-term goals. |
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Term
| Periodic or Occasional Expenses |
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Definition
| Expenses that aren't paid every month and can be either fixed or variable. |
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Term
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Definition
| Smaller decisions that can result from a major decision. |
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Term
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Definition
| A payroll deduction collected by employers by law and sent to the federal government to provide a small income and other services to the elderly, disabled Americans, and orphaned minors. |
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Definition
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Definition
| A payroll deduction collected by employers and sent to the state goverment to support state services. |
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| Expenses that are not fixed. |
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Term
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Definition
| Things that make life more interesting and fun but that people can live without if they have to. |
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