Shared Flashcard Set

Details

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

Additional Finance Flashcards

 


 

Cards

Term
Income
Definition
The amount of money a person recives or earns regularly.
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 goverment on income earned.
Term
Social Security
Definition
A federal goverment program that provides benifits for people of all ages.
Term
Medicare
Definition
A health care program provided by the federal goverment primarily 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 program.
Term
Budget
Definition
A plan for saving and spending money.
Term
Fixed Expenses
Definition
Expenses that people have alredy agreed to payand that must be paid by a particular date.
Term
Flexible Expenses
Definition
Expenses that come irregulary or that people can adjust more easily than fixed expenses.
Term
Interest
Definition
Favorite activites.
Term
Scholarship
Definition
Money for education awarded to students because of their need, or for academic or athletic achivement.
Term
Loan
Definition
Borrowed money that must be repaid.
Term
Work Study Program
Definition
A program that allows students to earn their education by working full oe part time jobs in a related field while they are in school.
Term
Grant
Definition
Money for education provided by the goverment, schools, or private donars.
Term
Prioritize
Definition
To put in order from first to last or from important to least important.
Supporting users have an ad free experience!