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Terms in this set (18)
Paid usually once a year as long as I own it; not taken from paycheck. Is for car, house, land, boat, etc.
The amount of income tax that the employer holds back from an employee's paycheck. Tax will finance Social Security and Medicare costs.
Extra amount added to the cost of goods and services, paid at the time of purchase.
Money that wage earners pay the state or federal government to run the country. The amount of the tax depends upon how much I earn.
Money paid to the government in exchange for services, like roads, bridges, and police protection. Can be paid to a local, state or federal government.
Income BEFORE any taxes are taken out of it.
How much money I have left when I add and subtract how much I spend.
An organized plan for saving and spending my money.
Keeps money safe; and loans money on which you will have to pay interest or pays you money for your savings account.
Dollars and Cents
A written document in a booklet that I can write out for any amount to pay for things. The money is taken out of my checking account and given to the specific person or business.
The price paid or earned for using assets. Credit card companies add this when I make charges on my card.
The portion of income not spent on current expenditures.
A card that can be used to borrow money from financial institutions, stores, or other businesses in order to buy products and services on credit. You can buy now and pay later with interest.
A card that is linked to your checking account so that a person can withdraw money, make deposits, or make purchases at a store. Automatically subtracts $ from checking account.
payment for goods and services
money earned or received
the income that remains after taxes and other deductions are taken from an individual's gross income. This is the money I get to take home.
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