budget - an estimated plan of what money you have coming in and what you have to pay out, outgoings/expenditure - money you have to pay out, contingency plan - a back-up plan for when you have unexpected financial issues, debt - when you owe money, income - money you receive, for example from work, loan - when you borrow money , interest - the charge for borrowing money, rates - a household payment to the local council to pay for things like the fire service and rubbish collection, mortgage - a loan to buy a house, essentials - things that we cannot live without e.g. food and electricity, non-essentials - things that we can live without e.g. phone or Sky TV,

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