Glossary
Glossary
Glossary
Glossary
Glossary
100

A detailed plan to help you manage resources, especially money and time

Budget

100

Something owed

Debt

100

Unfair treatment of a person or group based on prejudice about race, ethnicity, age, religion, or gender

Discrimination

100

Employment that supplies a person with income in exchange for 35-40 hours of work each week.

Full time work

100

Money paid to a person who owns a property that you are living in or using for a business

Rent

200

A financial cost, fee or charge

Expense
200

A person who learns a trade on the job from an experiences worker?

Apprentice

200

Total personal income before deductions

Gross income

200

Money paid to an employee for work done

Wage

200

Work comprising recurring periods in which different groups of workers do the same job in relay

Shiftwork

300

The lifelong process of managing work activities in order to live a productive and fulfilling life

Career

300

Education or training that follows secondary school

Post-secondary education

300

Providing labour, services, or products to others as an independent worker

Self-Employment

300

A loan taken by a person to buy a home

Mortgage 

300

The consumption (buying) of goods and services

Consumerism 

400

A tax paid by consumers on goods and services

GST - Goods and Services Tax

400

A trade or paraprofessional education sector

TAFE (technical and further education)

400

Way of saving for retirement 

Superannuation

400

An association of workers organised to protect the interests and rights of its members

Trade Union 

400

A scheme that gives Australian residents access to health care

Medicare Levy

500

The amount remaining after all deductions and expenses have been subtracted from gross income

Balance

500

A positive dollar amount on a budget sheet, which indicates income.

Credit

500

Money that you pay when you borrow money or use credit, or that is paid on investments?

Interest

500

A fixed payment for services or labour, calculated on a yearly basis

Salary

500

Personal income after all deductions

Net income