Shared Flashcard Set

Details

Chapter 14 Vocab
Vocab
17
Finance
7th Grade
11/18/2013

Additional Finance Flashcards

 


 

Cards

Term
Income
Definition
Taxes you pay for services.
Term
Gross Pay 
Definition
The total amount of money you earn before taxes are taken out.
Term
Net Pay
Definition
Money after taxes
Term
Withhold
Definition
Money your employer must hold from your pay
Term
Social Security
Definition
A Government program that benifits people of all ages.
Term
Medicare
Definition
A health care program from the federal government primarilly for the retirees.
Term
F.I.C.A
Definition
F.I.C.A a law dealing with having to do your taxes that are held from your paycheck and given to Social Security
Term
Budget
Definition
A plan or Idea for both saving and spending your money.
Term
Fixed Exspenses
Definition
Expense that people already agreed to pay and that must be paid on a particular date
Term
Flexible Expenses
Definition
Exspense that come on a regular basis that people can adjust easier than fixed expenses
Term
Scholarship
Definition
Money for education given to students because they need or have earned it.
Term
Loan
Definition
Money that has been borrowed and has to be returned
Term
Work study program
Definition

A program that lets students get education by working in a field that is related to what they are learning in school

 

Term
Income Tax
Definition
Tax paid to the government from earned money
Term
Grant
Definition
Money for education given by the schools, Gobernment, or private provider.
Term
Prioritize
Definition
To put in order from first to last or Most important to leat important
Term
Interest
Definition
Money banks pay to their depostitors for their money
Supporting users have an ad free experience!