Budget
A plan of action to balance income and spending.
Bulk Purchase
Buying a large quantity of one product all at once.
Buyer's Remorse
Regret a buyer feels after purchasing a particular product.
Cost
The price required to purchase goods or services.
Coupons
A discount to purchase a particular item that is printed on paper or given as a code to use when buying the item online.
Essentials
Something fundamental or necessary, a definite need.
Frugal
Not wasteful, thrifty and cautious with money.
Impulse Purchase
See it, want it, buy it without considering the real cost.
Ledger
A record of spending and income.
Spreadsheets
software that allows you to record and calculate a budget using formulas
Long term goal
A goal that will be completed in more than one year's time.
Needs vs. Wants
A need is an essential that one must have, versus a want which is something you would like to have but it is not required.
Options
Different choices that you can select from.
Short-term goal
A goal that will be completed in less than one year.
Trade offs
Giving up one want in order to satisfy another.
Oblivious
Spends money without any thought as to where it is coming from or where it is going.
Money star
Likes expensive items that are the newest, latest and greatest trend.
Penny-Wise Pound-Foolish
Saves money carefully and does not want to spend it even on items or services that would be a good investment in meeting a future goal.
Biz Kid
Tracks spending and savings with a careful balance of these activities. Knows where their money goes and has goals for what they want to accomplish, what they value and what the costs of items are and when to buy them.
Income
Money that you earn in exchange for providing a good or service.
Fixed expenses
Expenses that do not change from month to month.
Variable expenses
Food expenses and electricity expenses are examples of this type of bill.
Overdraft
A charge occurring when you spend more than you have in your checking account.
Emergency fund
Monies that is saved for unexpected future expenses.
Debt
Money owed to someone else.