Expense
money spent on goods and services
Fixed Expense
expenses which stay basically the same from month to month, such as housing and transportation.
Variable Expense
an expense that changes from month to month
Cost
the value of everything a seller must give up to produce a good
Income
Any money you receive
Profit
Money that is left after expenses have been paid for from a business or an investment.
Income - Cost = Profit
Budget
A plan for making and spending money
Savings
Income not used for consumption
Allocate
To disiturbe according to the plan
Price
The amount of money exchanged for a good or service
Bank
A financial institution that provides service like checking and savings accounts, loans, and credit.
Loan
money that has been borrowed