Budget, Plan of income and expenditure for the coming year., Income, Money received eg wages, Expenditure, Money spent eg rent, Needs, Things you need to survive, you cannot live without eg food, Wants, Things you want but don’t need, you can live without them eg iphone, Receipt, Proof of payment, Consumer, someone that buys goods and services for their own use, Impulse Buying, Buying things on the spur of the moment without thinking or budgeting., Guarantee, Promise made by the manufacturer to repair an item if it breaks within a certain timeframe.

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