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In addition to money, employers use these to compensate employees. This can include unemployment, medical leave, etc.
Employee benefits
Money automatically taken from paychecks by the federal and state government, it is illegal to stop paying these
Taxes
The increase in the general price level of goods and services over time, reducing the purchasing power of money
Inflation
The money you receive on a regular basis
Income
Deciding in advance how to go about completing a task, including determining the necessary equipment and breaking it down into detailed steps
action mapping
A card linked to your account, you can only spend what you currently have
Debit card
A set 12 month period used to track finances, this can differ from the calendar year and is typically used by businesses
Fiscal year
A card where you can spend money and pay it back at a later date
Credit card
a financial plan that helps you manage money effectively and achieve financial goals.
Budget
Money that you purposely don't spend. It stays in your account and accumulates over time until you are ready to make a larger purchase.
Savings
Anything valuable that you own, like a car or house
Asset
A number used to determine the risk of loaning an individual money, this is calculated looking at past loans and payments
Credit score
A sum of money put aside specifically for unfortunate circumstances or accidents
Emergency fund
The cost required for something, or how much you spend on things
Expenses
Anticipating potential roadblocks and preparing alternative solutions
Foresight/risk management
When the government pays you back for accidentally taking too much money in taxes
Tax return
Borrowed money that accumulates interest over time
Debt
Money that you absolutely have to spend (things like food, rent, etc)
Mandatory spending
Money that comes without clocking in or constant work
Passive income
Putting money into a possession, project, or business with the intent to make a profit
Investment
Having a share of ownership in a company
Stocks
The amount of money needed to maintain a certain standard of life, including basic expenses such as housing, food, and transportation. This has been steadily rising for many years
Cost of living
The percentage at which your savings grows, this differs depending on what type of account you have and what bank you use
Annual percentage rate (APR)
When assets lose value overtime
Depreciation
An unexpected financial gain, such as an inheritance, lottery win, or legal settlement
Windfall