Income - Refers to the money a person receives regularly, typically from employment (wages or salary), investments, rental properties, business profits, or other sources. It represents the total amount of money earned or received over a specific period., Expenses - Encompass everything a person pays for using their income. These can include various items such as bills, rent, groceries, transportation, entertainment, and more, Fixed Expenses - These are expenses are regular, predictable costs that remain constant from month to month. These expenses can include payments such as rent/mortgage, loans, subscription services and utilities., Variable Expenses - These are expenses are costs that can change from month to month. These can included things such as dining out, entertainment, clothing, hobbies, or travel, Needs - These are essential items or necessities that are required for survival or to maintain a reasonable quality of life. These include food, shelter, clothing, healthcare, education, transportation (for work or school), and utilities., Wants - These are things that are desired or preferred but are not necessary for basic survival. These are items or activities that enhance life but are not essential, such as luxury items, entertainment, vacations, dining out, or hobbies.,

Key Financial Terms

by
Print
Embed

Leaderboard

Visual style

Options

Switch template

Continue editing: ?