Shared Flashcard Set

Details

Chapter 2
Making and changing your budjet
19
Mathematics
9th Grade
09/02/2015

Additional Mathematics Flashcards

 


 

Cards

Term

 

 





Needs

Definition

 

 

Things that you must have, such as food.

Term





Utilities

 

Definition

 

 






 Services such as electricity, gas, water, and heat.

Term

 

 

Wants

Definition

 

 

Things that you want, but you can go without.

Term

 

 


Expenses

Definition

 

 

 

Money spent on something you need or want.

Term

 

 

Expense record

Definition

 

 

An organized chart used to list things you spent money on for a certain period of time, such as a week or a month.

Term

 

 

Fixed Expenses

Definition

 

 

expenses that stays the same week to week, month to month.

Term

 

 


Variable expenses

Definition

 

 

Expenses that change week to week, month to month.

Term

 

 

Income

Definition

 

 

Money you earn from working, or receive from investments or from other sources.

Term

 

 

Savings

Definition

 

 

 

 

The difference between your income and total expenses.

Term

 

 


Budget

Definition


 

A plan for spending and saving money

Term



Transfer

 

Definition

 

 

To move money from one budget to the next budget.

Term



Balanced Budget

 

Definition

 

 

A plan where income is equal to the sum of expenses and savings.

Term

 


Estimate

 

Definition


 

To round to get an answer that isn’t exact; answers you get when you are using rounded numbers.

Term



Interest

Definition

 

 

Extra money you need to pay the lender for loaning you money.

Term

 

 

Predict

 

 

 

Definition

 

 


 

To make guess about the future.

Term



Debt

 

 

Definition


 

 

Money that is owed.

Term



Average

Definition






The sum of a numbers divided by how many numbers are in a set.

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