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what’s it called when you make money on the percentage of the total sales you make?
commission
What’s your biggest wealth-building tool?
income
when you’re creating your monthly budget, what’s the first priority under “Expenses”?
giving
If you approach money with a generous spirit, you’ll be:
more grateful
what will tracking expenses help you do?
stick to a budget, catch errors, and make adjustments
irregular income
income that comes in at different amounts or at different times, or both
commission
earnings based on a percentage of the sales made
cash-flow statement
a record that summarizes all of the income and outgo (spending) over a certain time period
net income
what a person earns after payroll taxes and other deductions are taken out; often referred to as take-home pay
gross income
the amount you earn before taxes and other payroll deductions
zero-based budget
a cash-flow plan that assigns an expense to every dollar of your income; the goal is for the total income minus the total expenses to equal zero
discretionary expense
expense for things you don’t need
fixed expense
expense that remains the same
Note 
Flashcard (20)