Money In
money received, especially on a regular basis, for work or through investments.
Income
a machine that dispenses cash or performs other banking services when an account holder inserts a bank card
ATM
the amount of risk or liability that is covered for an individual or entity by way of insurance services.
Coverage
a compulsory contribution to state revenue, levied by the government on workers' income and business profits, or added to the cost of some goods, services, and transactions.
Taxes
financial strategies of saving, investments, and ultimately distributing money meant to sustain oneself during retirement.
Retirement plan
something, typically money, that is owed or due.
Debt
a nonprofit-making money cooperative whose members can borrow from pooled deposits at low interest rates.
credit union
the money one has saved, especially through a bank or investment plan.
Savings
relating to the assistance of those in need
Charitable Giving
a specified amount of money that the insured must pay before an insurance company will pay a claim.
Deductible
the U.S. federal agency that oversees the collection of taxes—primarily income taxes—and the enforcement of tax laws
The IRS
An account set up at a financial institution that allows an individual to save for retirement with tax-free growth or on a tax-deferred basis.
IRA
the maximum amount of credit a financial institution extends to a client.
Credit Limit
wages withheld from an employee's total earnings for the purpose of paying taxes, garnishments and benefits, like health insurance
Payroll deductions
a sum of money placed or kept in a bank account, usually to gain interest.
Deposits
a court order directing that money or property of a third party (usually wages paid by an employer) be seized to satisfy a debt owed by a debtor to a plaintiff creditor
Garnishments
Insurance against improper, illegal, or negligent professional activity or treatment, especially by a medical practitioner, lawyer, or public official.
Malpractice Insurance
tax levied by the state government directly on income, especially an annual tax on personal income.
State Income Tax
a retirement savings plan offered by many American employers that has tax advantages for the saver.
401K
the action of taking possession of a mortgaged property when the mortgagor fails to keep up their mortgage payments
Foreclosure
The activity of setting up a business or businesses, taking on financial risks in the hope of profit
entrepreneurship
money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
Interest
the cost required for something; the money spent on something
Expenses
the time frame during which an insurance policy is effective
Policy Period
tax levied by the US government directly on income, especially an annual tax on personal income.
Federal Income Tax
a number in the format 000-00-0000, unique for each individual, used to track benefits and for other identification purposes.
Social Security Number
form of bankruptcy. It is available to individuals who cannot make regular, monthly, payments toward their debts
Chapter 7
a piece of paper or a digital record that is given to an employee with each paycheck and that shows the amount of money that the employee earned and the amount that was removed for taxes, insurance costs, etc.
Pay stub
money borrowed from the federal government to help pay for your education, that must be repaid with interest
federal student loan
an account at a bank against which checks can be drawn by the account depositor.
Checking Account
an amount to be paid for an insurance policy.
Premium
tax assessed on real estate by a local government and paid by the property owner
Property tax
an estimate of income and expenditure for a set period of time.
budget
also called a wage earner's plan. It enables individuals with regular income to develop a plan to repay all or part of their debts.
Chapter 13
the process of bringing a business to an end and distributing its assets to claimants
liquidation
a bank account that earns interest.
Savings account
a sum of money that is expected to be paid back with interest
Bank Loan
any form of perks or compensation that are provided to employees in addition to their base salaries and wages
Employee Benefits
a consumption tax on the sale of goods and services
sales tax
the action or process of investing money for profit or material result.
investments
wrongful or criminal deception intended to result in financial or personal gain.
fraud
a relatively small amount of money lent at a high rate of interest on the agreement that it will be repaid when the borrower receives their next paycheck.
Payday loan