IL: Unit 3 Budgets SUMMATIVE Review

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1.
A budgeting method where anticipated earnings are assigned a role to be spent, saved, or invested somewhere, so there's no "leftover" money with no purpose
2.
A cost that appears irregularly or that changes in amount (e.g., utility bills)
3.
A budgeting strategy where you save a specified amount of your paycheck before doing anything with the rest of your money
4.
The amount of money needed to sustain a certain level of living, including basic expenses such as housing, food, taxes, and healthcare; often used when comparing how expensive it is to live in one city versus another
5.
The basic services your home, apartment, or business need to keep it comfortable and functioning properly (e.g. water, electricity, etc.)
6.
A fixed amount that you are paid over a period of time, regardless of how many hours you work
7.
A plan of your expected income and how you will use it to meet your expected expenses over a period of time; it is okay to change or alter as needed.
8.
Any items subtracted from your paycheck, including state and federal income taxes, Social Security, health insurance or 401(k) contributions.
9.
Money set aside for unanticipated expenses or loss of income.
10.
A budgeting method where money for monthly spending is taken out in cash and placed in labeled envelopes according to budget categories.
11.
The main reason athletes go broke is because of __________________ debts.
12.
Items or services you pay for such as rent, groceries, entertainment, bills, etc.
13.
______________________ ______________________ help athletes manage their money.