Budgeting

Shane Buckley
Note by Shane Buckley, updated more than 1 year ago
Shane Buckley
Created by Shane Buckley over 5 years ago
30
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Description

A note explaining key definitions of terms related to budgeting

Resource summary

Page 1

IncomeIncome is money that we receive.Regular income is received on a regular basis e.g every week or month.Additional income is received irregularly e.g overtime.ExpenditureFixed Expenditure is expenditure of a fixed amount that must be paid on a fixed day e.g mortgage .Irregular Expenditure is expenditure of a variable amount to be paid on a variable day e.g Telephone Bills.Discretionary Expenditure is expenditure where the consumer has a choice after fixed and irregular expenditure have been paid.

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