Financial Voc
Define Income Tax
What is money taken from your earnings to help pay for government services.
If you wake up too sick to go to work, you should complete this action as soon as possible to inform your supervisor.
What is calling or texting your boss directly?
Before spending money, a smart shopper asks themselves if an item is a "want" or if it is one of these—something absolutely required to live, like food or medicine.
What is a need?
This is the specific amount of money an employer agrees to pay an employee for every single hour they complete at work.
What is the hourly wage (or hourly pay rate)?
This is the specific calendar date printed on a bill by which your payment must be received to avoid extra fees or service shut-offs.
What is the due date?
Define Expense
What is money you spend to pay for something.
To prevent slips, trips, and falls, you must keep these pathways and walkways completely clear of boxes, cords, and personal bags.
What are the aisles
This extra fee is added to the price of your items at the checkout register and goes to the local government.
What is sales tax?
If you work exactly 10 hours in a week and your hourly wage is $15.00, this is the total amount of money you earned before taxes.
What is $150.00?
While "Rent" pays for the physical space you live in, this general term covers the monthly bills for services like electricity, water, gas, and internet.
What are utilities?
Define Gross Pay
What is the total amount of money you earn before taxes and deductions.
If you are running late or going to miss your shift, you should contact your manager with this specific information so they can plan ahead.
What is an estimated arrival time (or an honest reason)?
To save money and avoid wasting food, shoppers look for this printed detail on milk, meat, and eggs to make sure it won't spoil immediately.
What is the expiration date (or "Best By" date)?
In most standard jobs, working this exact number of hours per week is considered full-time employment.
What is 40 hours?
If you forget to pay your cell phone bill on time, the company will charge you this penalty—an extra sum of money added to what you already owe.
What is a late fee?
Define Debt
What is money you owe to another person, business, or financial company.
When a manager gives you feedback on how to improve your work, you should practice active listening, avoid arguing, and say these two polite words.
What is "Thank you"?
To find out if a giant cereal box is actually a better deal than a small one, a smart shopper checks this small price per ounce or pound listed on the shelf tag.
What is the unit price?
If you clock in at 9:00 AM and clock out at 11:30 AM, you worked this decimal number of hours.
What is 2.5 hours?
Unlike rent, which stays exactly the same every month, your electricity bill is this type of expense because the cost changes depending on how much you use.
What is a variable expense?
Define Credit
What is a way of borrowing or using money that you agree to pay back later.
To respect your coworkers in shared breakrooms, you should always clean up your food splatters in this appliance and never eat food labeled with someone else's name.
What is the microwave?
If your total bill at the grocery store comes to $16.50 and you hand the cashier a $20 bill, this is the exact amount of cash you should receive back.
What is $3.50?
If a employee works more than 40 hours in a week, they typically earn "Time and a Half." If their normal pay is $10.00 an hour, this is their overtime hourly rate.
What is $15.00 an hour?
To avoid forgetting a deadline, many people set up this convenient banking feature, which automatically deducts the exact bill amount from their checking account every month.
What is Auto-Pay (or automatic bill pay)?