Zero-based budgeting
A budgeting method where income minus every planned expense and saving equals exactly zero. Each dollar is assigned a job.
Topic Budgeting
Withholding
The tax your employer takes out of each paycheck and sends to the government on your behalf.
Net income
Your take-home pay after taxes and deductions.
Joint account
A bank or investment account shared by two or more people, each with full access.
Gross income
Your total pay before taxes and deductions are taken out.
Fixed expense
A cost that stays the same each month, making it easy to plan around.
Cash flow
The money coming in versus going out over a period. Positive cash flow means you earn more than you spend.
Budget
A plan for how you will spend and save your income before the month begins.