1. Money Management

2. Vocab Words Budget: a spending plan to help you manage your money Needs: items that you are unable to live without Wants: items you desire, but can live without

3. Continued… Short-term goals: things you want to purchase in a year or less Long-term goals: things you want to spend your money on several years from now Prioritize: rank them in order of importance

4. And more… Income: all of the money available for spending Expenses: things you spend money on Fixed Expenses: paid on a regular basis and in a set amount Flexible Expenses: less regular and vary in amounts