Budgeting Language Dictionary

 Hi Guys!

Today in class wee were given the task of making a budgeting language dictionary. This is where a bunch of words the relate to budgeting is explained.

Here is my work from today:

Words -

Budget: The money you have available to spend. This is connected to budgeting because you can spend

money if you don't have a limit this is important because it helps limit your odds of going into a deficit.

Surplus: When you have spent less than your budget. This is good because then you have extra money

for extra things you want.

Deficit: When you spend more than your budget.

Spend: When you buy something using money.

Savings: Having extra that you have not spent.

Wants: Something that is not a need and you want to have.

Needs: Something that is essential to your life.

Income: Money that you have coming into you or your bank account.

Finance: Money that you are in control of.

Price: The set cost an item or service has.

Fees: All the costs you need to pay.

Necessity: When something is required in a transaction or someone’s everyday life.

Exchange: A trade between person to person.

I think I did a good job because I added heaps of information to help people understand what they means by making it to its simplest form of language. I managed to learn the meaning of these words and didn't use any sites to help me with this task.

Hope you enjoy my work and now understand what I am teaching you.

BYE!