Financial Algebra Chapter 3

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RecordKeeping

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Finance

12 Terms

1

RecordKeeping

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

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2

Expenditures

Items you spend money on.

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3

Budget Sheet

A recod of monthly expenses.

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4

Living Expenses

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

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5

Budget

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

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6

Fixed Expenses

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

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7

Annual Expense

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

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8

Expense Summary

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

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9

Emergency Fund

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

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10

Device

Some devised or contrived as a plan procedure, or technique

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11

Vary

To exhibit or undergo change.

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12

Vehicle

A means of carrying or transporting something.

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