Glossary of Budget Terms
I throw around a lot of terms on this blog. Most of them come from the Stackbacks Automated Budget System e-book, but others have evolved from talking about the same topic for a while. If there is ever a term you have a hard time defining, please email me.
Allowance:
The amount budgeted for living expenses.
Bills Account:
Another term for planned account. Typically planned expenses are bills.
Cash Allowance:
A secondary allowance used strictly for cash withdraws.
Flow:
Direction the money comes into and out of your checking accounts.
Living Expense:
Another term for unplanned expense. Unplanned expenses are used to live.
Personal Account:
The checking account dedicated to living expenses (unplanned expenses).
Personal Expense:
Another term for unplanned expense.
Planned Account:
The checking account dedicated to planned expenses.
Planned Expense:
An expense that can be scheduled on an exact date and/or is the same amount. Planned expenses can be easily planned for with a specific date and amount. Examples: car insurance, rent, utilities
Stackbacks:
To accumulate money. A contraction of stack greenbacks.
Stackbacks Automated Budget System:
A simple system for budgeting money utilizing two checking accounts, auto debits, and bill pay.
Unplanned Expense:
An expense that varies in amount and or frequency. Unplanned expenses are often related to each other (dining out vs groceries). Unplanned expenses are lumped into one category. Examples: gas, groceries, entertainment
