Income & Employment
The amount of money you take home after taxes and deductions.
What is net income or net pay?
Type of account that is used for everyday spending.
What is a checking account?
A number that represents your creditworthiness.
What is a credit score?
The difference between needs and wants.
What is needs are essentials and wants are non-essentials?
A person who has ownership in a company.
What is a stockholder or shareholder?
Type of performance-based pay that is based on a percentage of sales made.
What is a commission?
Type of account designed to store money and earn interest.
What is a savings account?
The smallest amount you must pay on a credit card each month.
What is the minimum balance or minimum payment?
Expenses that change each month, like groceries or gas.
What are variable expenses?
The potential for gain or loss in investing.
What is risk?
The total amount of money earned before deductions?
What is gross income or gross pay?
Automated Teller Machine
What does ATM stand for?
The fee charged for borrowing money, usually a percentage.
What is an interest rate?
Expenses that stay the same each month, like rent or car payment
What are fixed expenses?
The practice of spreading out investments to reduce risk.
What is diversification?
Two common benefits an employer might offer besides salary.
What are health insurance, retirement plan, paid time off, vacation pay, sick leave, etc.
Money paid by a bank to you for keeping money in your account.
What is interest?
Name one way to improve your credit score.
What is pay your bills on time, reduce debt, keep balances low, etc?
One benefit of creating a budget.
What is controlling spending, avoiding debt, reaching financial goals, etc?
A loan to a company or government.
What is a bond?
The difference between a salary and an hourly wage.
What is a salary is fixed annual pay; a wage is pay per hour worked?
This word describes when you take money out of your bank account.
What is an account withdrawal?
The original amount borrowed on a loan.
What is principal?
A plan for managing your money each month.
What is a budget or budgeting?
A collection of stocks and bonds managed together.
What is a mutual fund?