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Personal Finance
Vocabulary Review
Term | Definition |
---|---|
taxes | mandatory payments you make to state and local governments |
balanced budget | spending is equal to or less than earnings |
variable expense | costs change from month to month |
fixed expense | costs usually remain steady from month to month |
want | unnecessary expenses |
need | necessary expenses |
income | money you earn |
take home pay | amount left over in your paycheck after deductions |
startup capital | money you invest to get your business up and running |
federal taxes | payments you make to the U.S. government |