Budgeting and saving
| English | Chinese | Pinyin |
|---|---|---|
| budget/ˈbʌdʒɪt/ | 预算 | yù suàn |
| income/ˈɪŋkʌm/ | 收入 | shōu rù |
| expenditure/ekˈspendɪtʃə/ | 支出 | zhī chū |
| savings goal/ˈseɪvɪŋz ɡəʊl/ | 储蓄目标 | chǔ xù mù biāo |
| fixed cost/fɪkst kɒst/ | 固定成本 | gù dìng chéng běn |
| variable cost/ˈveərɪəbl kɒst/ | 可变成本 | kě biàn chéng běn |
Give every dollar a job
- A budget 预算 is a plan for income, spending, and saving over a stated period.
- Income 收入 is money received; expenditure 支出 is money paid out. The difference is the amount available to save, repay, or spend later.
- A budget is most useful before money is spent, when it can change a choice.
A budget is a plan for money before money makes its own plans.
Save for a reason
- A savings goal 储蓄目标 names an amount, purpose, and date. It turns “save more” into a decision you can check.
- An emergency fund is money set aside for an unexpected cost, such as a repair or medical bill.
- Pay yourself first: move a planned amount into savings when income arrives, rather than hoping there is something left at the end.
Which is a savings goal?
It names an amount, purpose, and date.
Review the real pattern
- A fixed cost 固定成本 usually stays similar each month, such as rent or a subscription. A variable cost 可变成本 changes with use, such as food or transport.
- Tracking actual spending reveals where a budget was unrealistic. It is evidence, not a reason to feel guilty.
- A surplus can build savings; a deficit means spending is greater than income and needs a decision.
Match the cost to its usual type.
One is fairly regular; the other changes with use.
Mei receives 3,000 yuan each month. Her planned costs are 1,200 for food and transport, 300 for phone and subscriptions, and 500 for study materials. She transfers 400 yuan to an emergency fund on payday. Her remaining 600 yuan is available for flexible spending or an extra savings goal.
The plan works because every number has a category. “I will be careful” does not show where the money goes.
Income is 3000 yuan and planned expenditure is 2000 yuan. What is the surplus in yuan?
3000 − 2000 = 1000 yuan available for saving or later spending.
A deficit means expenditure is greater than income.
A deficit needs an action: reduce spending, increase income, or use planned savings.
Write one English sentence explaining why a student should track actual spending.
Example: “Tracking spending shows whether my food budget was realistic and what I should change next month.”
Income − expenditure = surplus or deficit. Write the calculation before giving advice. A budget answer needs a number and a reason.
Do not put every expense in “other”. A category that is too broad cannot help you choose what to change next month.