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FM U1L2N1
Income, Needs, Wants...
7
Mathematics
9th Grade
09/05/2016
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Term
Expense
 Definition
Something you spend money on
Term
Income
 Definition
Money you earn from a job or get by another source
Term
Needs
 Definition
Things you must have to live
Term
Wants
 Definition
Things you would like to have
Term
Periodic Expense
 Definition
An expense you pay occasionally
Term
Fixed Expense
 Definition
The amount stays the same and is due the same time every month
Term
Variable Expense
 Definition
The amount varies monthly based on usage but the bill is due every month
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