Personal Budgeting Terms

noun the total amount of money made in a specific period of time

• The gross income of the company was calculated before deducting any expenses.
• I heard that Bob's gross income is pretty high, even after taxes.
• That side hustle is bringing in some serious gross income, dude.
• Her dedication to her craft resulted in a gross income of respect from her peers.

noun a medium of exchange in the form of coins and banknotes

adjective relating to or consisting of money

• The company is currently focused on raising money for their new project.
• I need to save up some money before going on vacation.
• I can't go out tonight, I'm low on money.
• Time is money, so let's not waste any more of it.

noun items or things that are needed or essential; necessities

• It is important to pack all the necessaries for the business trip.
• Don't forget to grab the necessaries before we leave.
• I always make sure to have my necessaries with me at all times.
• Education is the key that unlocks the door to all other necessaries in life.

verb to use money to pay for goods or services; to pass time in a particular way

• I plan to spend the weekend visiting art galleries and museums.
• Let's spend the day at the beach, soaking up the sun.
• I love to spend my weekends chilling with friends.
• Time is the most valuable thing we can spend in life.

adjective describing the condition of being in a difficult financial situation

preposition indicating the position or location of being in financial straits

• The company found itself in financial straits after several quarters of declining revenue.
• My friend is in financial straits and is looking for a job to help pay off his debts.
• I heard John is in some serious financial straits right now, he might need to borrow some money.
• The country was in financial straits, with its economy on the brink of collapse.