Income
Money received especially on a regular basis for work or through investments FROM MULTIPLE SOURCES.
What is an income?
Money that is borrowed and must be repaid to a lender, usually with added interest.
What is debt?
Using your own money now to buy something like a stock, property, or business with the expectation that it will grow in value or generate income for you.
A fixed regular payment, typically paid weekly, biweekly, or monthly from an employer.
What is a salary?
A financial plan that outlines expected income and expenses over a specific period, helping you track where your money goes.
What is a budget?
An income from a pension or investment that is set at a particular figure (number) and does not vary or rise with the rate of inflation.
What is a fixed income?
A payment card linked directly to your bank account, allowing you to spend your own money instantly for purchases.
What is a debit card?
To designate or treat something as more important than other things.
What is prioritizing?
Money paid to an employee for work or services typically calculated hourly or daily or by task.
What are wages?
Money set aside specifically for unexpected expenses, such as medical bills or unforeseen house repairs or car repairs.
What is an emergency fund?
Earnings that change from period to period, often coming from tips, or bonuses, or fluctuating hours at work.
What is a variable income?
Costs that change in amount from month to month such as groceries, clothing, entertainment, and travel.
What are variable expenses?
An occupation undertaken for a significant period of a person's life and with opportunities for progress.
What is a career?
What is an entry level job?
The rate at which the general prices of goods and services rise over time, which reduces purchasing power.
This type of income is the profit left over after subtracting all expenses, taxes, and deductions.
What is a net income?
Regular and consistent costs that you rack up every month that typically stay the same or change very little such as rent or subscription fees.
What are fixed expenses?
A mandatory payment or charge collected by the state or government from individuals or businesses to cover the cost of services and goods.
What are taxes?
The ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.
What is credit?
The original amount of money borrowed on a loan, before interest is added.
What is the principal?
Your total earnings from all sources before any taxes, benefits, or other deductions are taken out.
What is Gross Income?
The human tendency to seek reward or satisfaction often by making impulsive choices rather than waiting for a greater, but delayed outcome.
What is impulse gratification?
A network of exchanges where investors buy and sell shares (small pieces of ownership) in public companies allow businesses to raise capital and individuals grow wealthy by profiting from the company's success.
What is the stock market?
This is a 3-digit number that lenders use to predict how likely you are to repay borrowed money based on information in your credit report.
What is a credit score?
A strategy or account (like a 401K or IRA) designed to save and invest money for when you stop working.
What is a retirement plan?