Moola
Money earned before taxes and other expenses are taken out.
Gross pay
Money that people and businesses pay to help pay the cost of government.
Taxes
Automated Teller Machine
ATM
A place where shares of pubic listed companies are traded.
Stock market
A percentage of money paid for a loan or a debt.
Interest
Money left over after all expenses are taken out
Net pay
The money (tax) levied by the employer and employee to fund the Social Security Program from payroll or self-employment tax.
Social security tax
The process of setting aside a portion of current income for future use.
Savings
A retirement savings plan sponsored by an employer using a piece of the employee’s paycheck before taxes are taken out.
401 K
A way to protect from financial loss.
Insurance
A card used as payment like a credit card, but the money comes from a personal checking account.
Debit card
Money that people and business pay to help pay the cost of the State’s government
State Tax
A financial institution licensed as a receiver of deposits.
Bank
Any person, company or other institution that owns at least one share in a company
Shareholder
A good or service that cost money.
Expense
A card authorizing purchases on credit.
Credit card
Money that people and business pay to help pay the cost of the federal (country) government
Federal Tax
home loan
Mortgage
Saving money for a specific reason that takes disciplined saving and investing strategy and is carried out over a long period of time..
Long term financial goal
does not change
Fixed
The investor’s share of a company’s profit.
Dividends –
The Federal Insurance Contributions Act (FICA) is a U.S. law that creates a payroll tax requiring a deduction from the paychecks of employees as well as a contribution from employers to fund the Social Security and Medicare programs.
FICA
A company that provided low-cost loans and savings accounts. Members own and run the credit union.
Credit union
The strategy of investing in a variety of securities in order to lower the risk involved with putting money into few investments.
Diversification
A plan for spending and saving money.
Budget