Shared Flashcard Set

Details

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

Additional Finance Flashcards

 


 

Cards

Term
Income
Definition
The amount of money a person recives or earns regulaly.
Term
Gross Pay
Definition
Total pay.
Term
Net Pay
Definition
Take home pay.
Term
WithHold
Definition
To Take Out (As In Money From A Paycheck)
Term
Income Tax
Definition
Tax Paid To The Government On Income Earn.
Term
Social Security
Definition
A Feederal Government Program That Provides Benifits For People Of All Ages.
Term
Medicare
Definition
A Health Care Program Provided By The Federal Government Primarliy For Retired Persons.
Term
F.I.C.A
Definition
The Federal Insurance Contribution Act, A Law Having To Do With The Taxes That Are Withheld From Paychecks And Contributed To The Social Security Programs.
Term
Budget
Definition
A Plan For Saving And Spending Money.
Term
Fixed Expenses
Definition
Expenses That People Have Already Agreed To Pay And Must Be Paid By A Particular Time.
Term
Flexible Expenses
Definition
Expenses That Come Orregularly Or That People Can Ajust More Easily Than Fixed Expenses.
Term
Interest
Definition
Money That Banks Pay Depositors For Use Of Their Money.
Term
Scholarship
Definition
Money For education awarded To Students Because Of Their Need, Or For Acadmic Or Athletic Achivement
Term
Loan
Definition
Borrowed Money That Must Be Repaid.
Term
Work-Study Program
Definition
A Program That Allows Students To Work For Their Education By Working Full Or Part Time Jobs In Related Field While They Are In School.
Term
Grant
Definition
Money For Education Provieded By The Government, Schools, Or Privite Donors.
Term
Prioritize
Definition
To Put In Order Form First To Last From Most Important To Least Important.
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