FINANCIAL MANAGEMENT TERMS TEACHER ORGANIZER

Budget
A list of all planned expenses and income.

Income
Amount of money that an individual or business earns in a given period.

Expense
Something spent or required to be spent.

Savings
Income not used; money set aside. Can accumulate when income is higher than expenses for an individual.

Debt
Money that is owed. Can accumulate when expenses are higher than income for a business or individual.