Savings, Money left over from after the expenditure has been deducted from income and set aside, Credit, Permission to purchase goods and services now and pay in the future, Goals, A desired outcome you wish to achieve, Income, Money a person receives, for example, from work as an allowance, Wealth, The stock of assets that a person has such as property or shares, Budget, An estimate of expected income and expenditure for a set period of time, Shares, Part ownership of a company listed on the stock exchange, Debtors, People who owe money to someone else, Creditor, A person who is owed money, Interest, Income earned from money lent, Loan, Money that is borrowed from another person or financial institution, Inflation, The rate at which the average level of prices are rising, Variable Expenses, Costs that vary such as electricity, Assets, Items of value owned by a person or business, Planning, Setting goals and strategies to achieve them, Fixed Expenses, Costs that do not vary such as rent
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Budgeting Terms
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