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Sales, Rebates, Coupons

Terms in this set (20)

Coupon
A voucher entitling the holder to a discount on a product or service purchased.
Rebate
A partial discount or refund given on a purchased item; may be instant, occurring at the time of
purchase, or mail in, requiring the purchaser to pay full price for the item and receive money back in the mail.
Sale
A special clearance of goods usually at a reduced cost.
Redeem
To change for money, to redeem a coupon is to exchange the coupon for a discount on goods or
services.
Monetary Incentive
financial reasons, such as sales, rebates, and coupons, to buy a particular item
Gross Pay
An employee's pay before any deductions (such as taxes or insurance) are taken
Income
A financial gain from capital or labor
Income Tax
A tax on the net income of an individual or business; typically taken out of a paycheck
Net Pay
The amount that remains after all deductions are taken from the gross pay
Wages
Payments for labor or services
Compound Interest
Interest paid on the initial principal and on interest earned in the past
Principal
The amount of money borrowed or deposited
Simple Interest
The amount paid or earned for the use of money. The formula is I=prt
Budget
A plan for spending
Expenses
The cost required to buy an item or service
Fixed Expenses
Costs that do not change based on the amount that is used; examples: car payment, rent, cel phone bill
Variable Expenses
Costs that do change based on the amount that is used; examples: utilities, car fuel, groceries
Financial Assets
what you own
Financial Liabilities
what you owe
Net Worth
The value of one's assets minus one's liabilities
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