Where's the Money, Honey?
A regular payment paid to you by your employer
What are wages?
Paper money or coins
What is Cash?
Money required of individuals and businesses in order to pay for government services
What are Taxes?
Money a business receives from selling goods or services
What is Revenue?
An organized plan where your total income equals your total expenses for a period of time
What is a Balanced Budget?
Money your receive regularly for completing chores for a parent
What is an Allowance?
A card that allows you to spend more money than you have in the bank
What is a credit card?
A yearly federal tax on a person's earnings
What is Income Tax?
Money placed into your checking account
What is a Deposit?
Money your receive in exchange for work or selling something
What is Income?
The total amount of money you earn before taxes and withholding
What is Gross Income?
A card that takes the money for a purchase right out of your checking account
What is a debit card?
Money withheld from a worker's paycheck to fund federal programs such as Social Security and Medicare
What are Payroll Taxes?
Money removed from your checking account
What is a Withdrawal?
Money spent on goods or services
What is an Expense?
the total amount of money a worker takes home after taxes and other deductions are withheld
What is Net Income?
A slip of paper you fill out to pay for a purchase
What is a check?
A city or state tax added to the price of your purchase
What is Sales Tax?
The amount left after all of the expenses are subtracted from monies received
What is Profit?
A cost that is the same each month and that cannot be easily adjusted to balance a budget
What is a Fixed Expense?
the balance in your checking account that you can spend
What are Available Funds?
The money you pay the bank if you don't pay your credit card bill right away
What is interest?
money collected by local governments based on the value of real estate that is used to fund public services
What is Property Tax?
money that a lender or business allows you to use to purchase goods and services with a promise to repay the money later, usually with interest
What is Credit?
An expense where the amount changes based on your needs or choices
What is a Variable Expense?