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Personal Finance
Vocab
48
General Vocab
11th Grade
10/05/2015

Additional General Vocab Flashcards

 


 

Cards

Term
Spending Plan
Definition
Plan on how you will use your money considering your wants and needs
Term
Expense
Definition
The money you pay for a service or product
Term
Gross Income
Definition
Income before taxes
Term
Income
Definition
Money you make over a period of time
Term
Income and Expense Statment
Definition
Sheet showing the income and expenses for a period of time
Term
Insurance
Definition
Term
Mortgage
Definition
Payments on a home
Term
Net Gain
Definition
Term
Net Income
Definition
Term
net loss
Definition
Term
Savings
Definition
Term
Asset
Definition
Anything you own
Term
Investment Asset
Definition
Anything you own that is going to make you money in the future
Term
Liability
Definition
Anything you owe
Term
Market Value
Definition
The price something coud be sold for now
Term
Monetary Asset
Definition
Easily turned into money
Term
Net Worth
Definition
Value of all your belonings and expenses
Term
Statement of Finacial Position
Definition
Term
Tangible Asset
Definition
Anything you own, that cannot be easily turned into money
Term
Wealth
Definition
Term
Community
Definition
Term
Earned Income
Definition
Term
excise income
Definition
Term
Income Tax
Definition
Term
Payroll Tax
Definition
Tax on wages and money earned
Term
Property Tax
Definition
Tax on buying and owning land
Term
Sales Tax
Definition
Tax on purchases
Term
Taxes
Definition
Extra money paid to provide services and products for common good
Term
Taxpayer
Definition
Anyone who pays taxes
Term
Unearned income
Definition
Money you didn't have to work for
Term
ATM
Definition
A bank without human interaction
Term
Checking Account
Definition
Fluid account easily able to access money, low interest rates.
Term
Commercial Bank
Definition
Bank for profit
Term
Contact Less payment
Definition
Payment deposited directly into an account, direct deposit
Term
Credit Union
Definition
Bank not for profit, membership
Term
Debit Card
Definition
Card that takes money directly from checking account
Term
Depository Institution
Definition
A business that provides money services. Banks.
Term
Interest
Definition
Percent of loan that compounds
Term
Taxpayer
Definition
Anyone who pays taxes
Term
Unearned income
Definition
Money you didn't have to work for
Term
ATM
Definition
A bank without human interaction
Term
Checking Account
Definition
Fluid account easily able to access money, low interest rates.
Term
Commercial Bank
Definition
Bank for profit
Term
Contact Less payment
Definition
Payment deposited directly into an account, direct deposit
Term
Credit Union
Definition
Bank not for profit, membership
Term
Debit Card
Definition
Card that takes money directly from checking account
Term
Depository Institution
Definition
A business that provides money services. Banks.
Term
Interest
Definition
Percent of loan that compounds
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