Mr. Park ERHS Mr. Saliani, Principal Budgeting Mr. Park ERHS Mr. Saliani, Principal

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What is a budget?

Vocabulary Budget: A financial plan used to forecast and track income and expenses Surplus/Deficit: ____________________________________________ Expense: Use of finances to fulfill a one-time or ongoing obligation; can be fixed or variable Fixed Expense: A regular, predictable expense such as a mortgage payment or rent. Variable Expense: An expense or expense category that is not fixed and can’t be precisely predicted; budget planning is something used to limit or constrain variable expense.

+ - Fixed Expenses Variable

Sample Monthly Budget

Budget Template

Budget Answer Key