Professional Documents
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Finished Budget Management
Finished Budget Management
• Re-evaluated periodically
Examples:
1. “Take home money”
2. Money earned from working
Fixed Expenses
Any expense that does not change from period to period
Examples:
1. Rent
2. Utilities
3. Loan payments
4. Subscriptions
5. Insurance
Flexible Expenses
An expense that can be cut back or eliminated
Examples:
1. Groceries
2. Dining out
3. Entertainment
4. Shopping – buying items you don’t necessarily need
Unplanned Expenses
Expenses that you did not see coming or that you did not
plan for
Examples:
1. Car repair
2. Home repair
3. Medical emergency
4. Moving expenses
5. Job loss
Understanding the Numbers
How to understand the end result of the budget:
• Surplus budget: income/revenues exceed expenses
• Balanced budget: income/revenues are expected to
equal expenses
• Deficit budget: expenses will exceed income/revenues
Talk
https://www.ted.com/talks/thasunda_duckett_6_ways_to
_improve_your_relationship_with_money?language=en