Lecture Notes on Budgets, Banking, and Savings

Flashcards about budgets, banking, and savings.

Budget

A plan of how much money a business will have and how it will spend it.

Budget

An estimate of all costs and expenses so that the business knows how much money it needs each month.

Groups that prepare budgets

Individuals, households, businesses, companies, and governments.

Household Budget

Helps the family make sure that there will be enough money to cover the expenses. It also helps to prevent spending too much on one thing so that there is not enough for another.

Savings

Any money left over after you have paid all your expenses that can be set aside to buy something you want but cannot buy from your monthly income.

Banking

Now considered to be a safe place to keep money.