Vocabulary A plan for managing money dividing up

Vocabulary A plan for managing money, dividing up expected income and expenses among spending and saving options based on personal goals during a given time period © 2008. Oklahoma State Department of Education. All rights reserved. 1

Vocabulary The costs of goods and services, including those that are fixed (such as rent and auto loan payments) and those that are variable (such as food, clothing, and entertainment). © 2008. Oklahoma State Department of Education. All rights reserved. 2

Vocabulary Desired results from one’s efforts to achieve personal economic satisfaction © 2008. Oklahoma State Department of Education. All rights reserved. 3

Vocabulary Expenditures that are the same from week to week or month to month, such as mortgage or rent payments and car payments © 2008. Oklahoma State Department of Education. All rights reserved. 4

Vocabulary Income that are the same from week to week or month to month. Usually refers to income from pensions or bonds © 2008. Oklahoma State Department of Education. All rights reserved. 5

Vocabulary Money earned from investments and employment © 2008. Oklahoma State Department of Education. All rights reserved. 6

Vocabulary Expenditures that change from week to week or month to month—for food, clothing, recreation and entertainment, for example © 2008. Oklahoma State Department of Education. All rights reserved. 7

Vocabulary Income that varies from week to week or month to month © 2008. Oklahoma State Department of Education. All rights reserved. 8

Variable Income

Financial Goal

Fixed Income

Budget

Income

Expenses

Fixed Expenses

Variable Expenses