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Financial Literacy Vocabulary - February 2016
Terms in this set (18)
Money paid to the government based on income.
Money an employer withholds from an employee's earnings. The total tax withheld.
Money added to the cost of items or services. This amount varies from state to state and city to city.
A portion of the value of items that is paid to a city or state government. It is charged on things such as cars, houses, boats or land.
Income before any taxies are taken out.
Income that is left after taxes are taken out.
An order in writing to a bank asking that a certain sum of money be paid out of one's account. Money will be taken out immediately.
A card issued by a bank that allows a user to buy items and services immediately and pay the cost at a later date. The bank may charge the user interest in exchange for paying later.
A card issued by a bank that allows a user to immediately remove money from an account.
Money put into a person's account.
A plan for how much income will be received and how it will be spent.
The amount of money spent.
Money put back to use for a later time.
A budget in which the total amount of money spent, saved and shared equals the total income.
Money earned from doing work.
Taking money out of an account.
The additional money paid by a barrower to a lender in exchange for the use of the lender's money.
Money paid to the government in exchange for services, such as road maintenance and police protection.
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