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2. Fixed Expenses vs. Variable Expenses: What’s the Difference?

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   Fixed Expenses vs. Variable Expenses: Quick Take. If you want to make sure you have enough money for necessities and unplanned expenses, you must create a budget. For that, learning the difference ...

3. Personal budget - Wikipedia

   en.wikipedia.org/wiki/Personal_budget

   The 50/30/20 budget is a simple plan that sorts personal expenses into three categories: "needs" (basic necessities), "wants", and savings. 50% of one's net income then goes towards needs, 30% towards wants, and 20% towards savings. [4]

4. 5 popular budgeting strategies — and how to find the best fit ...

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   4. No-budget budget: Best for freedom and flexibility. The no-budget budget is a simplified, no-frills budgeting method that focuses on the two key metrics: your monthly income and your monthly ...

5. Gross vs. Net Income: Understanding the Difference - AOL

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   How To Calculate Net Income. Based on the definition of “net income,” you calculate it by looking at your total revenue and subtracting any and all expenses.. Gross profit takes your total ...

6. Itemized deduction - Wikipedia

   en.wikipedia.org/wiki/Itemized_deduction

   Medical expenses, only to the extent that the expenses exceed 7.5% (as of the 2018 tax year, when this was reduced from 10%) of the taxpayer's adjusted gross income. [2] (For example, a taxpayer with an adjusted gross income of $20,000 and medical expenses of $5,000 would be eligible to deduct $3,500 of their medical expenses ($20,000 X 7.5% ...

7. Accounting equation - Wikipedia

   en.wikipedia.org/wiki/Accounting_equation

   The income and retained earnings of the accounting equation is also an essential component in computing, understanding, and analyzing a firm's income statement. This statement reflects profits and losses that are themselves determined by the calculations that make up the basic accounting equation.