Preparing a budget Matching
| How can you avoid a deficit? |
| Work overtime/ cut discretionary spending/ shop around/ get a loan |
| Any money an individual or household has at the start of a given period. |
| A plan that shows expected income and expenditure for a certain period of time |
| How do we find closing cash? |
| 2 effects of a budget deficit? |
| Not enough money to cover expenses/have to reduce their expenditure/may have to borrow money |
| What is total expenditure? |
| Fixed Expenditure + Irregular Expenditure + Discretionary Expenditure |
| Total income- Total Expenditure |
| How can you avoid a deficit? |
| Work overtime/ cut discretionary spending/ shop around/ get a loan |
| Any money an individual or household has at the start of a given period. |
| A plan that shows expected income and expenditure for a certain period of time |
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