pay-as-you-go

pay-as-you-go definition - finance
  1. A budgeting technique that requires expenses to be paid for when they are incurred. It doesnÂ’t allow for debt to be incurred. Typically state and local governments adopt this type of budgeting process.
  2. The federal income tax collection system, in which employees have taxes taken out of each paycheck and submitted to the federal government.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.