Budgeting Vocabulary Terms
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Just started my first job as an Accountant, today! The revenue that I earn will be recorded in my virtual checkbook!
Leaving the bank, where I was compensated for my revenue earned in cash, which is considered an asset.
Darn, I thought I would be able to take a nap, but I just remembered I have a few monthly expenses that I need to pay...rent and utilities.
I will use my virtual checkbook to budget my revenue and expenses for the remainder of the month.
Now that I've deducted my expenses from my revenue, my cash balance is $350. I've decided to leave $100 in my account to avoid over-drafting, so my excess for the month is $250.
I'm going to be smart about my funds. I will use $50 for fun and will move the remaining $200 to my savings.
By the end of the year, I could have saved $2,400!
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