Financial Algebra Chapter 3

RecordKeeping

Keeping track of items you spend money on during a period of time, to help you manage money.

Expenditures

Items you spend money on.

Budget Sheet

A recod of monthly expenses.

Living Expenses

Routine expenses, including amounts for food, utility bills, and pocket expenses.

Budget

A plan for using money in a way that meets your wants and needs.

Fixed Expenses

Regular expenses which do not vary from one month to the next, such as rent.

Annual Expense

Expenses which occur only once a year, such as real estate taxes.

Expense Summary

A monthly report that compares the amounts that you have spent to the amounts that you have budgeted.

Emergency Fund

Extra money set aside to be used for unpredictable expenses, such as medical bills and vehicle repairs.

Device

Some devised or contrived as a plan procedure, or technique

Vary

To exhibit or undergo change.

Vehicle

A means of carrying or transporting something.