Money Basics
This word refers to money a person earns from work or other sources
Income
A bank account people use for everyday transactions like deposits and paymentes
Checking Account
This card takes money directly from a checking account when used
Debit Card
The document that shows earnings and deductions for a paycheck
Pay Stub
A tool used to organize and track how money is allocated
Budget
A cost or payment someone makes for goods or services
Expense
A bank account used to store money and sometimes earn interest
This type of card allows a person to borrow money up to a set limit
Credit Card
Money taken out of gross pay for taxes or other withholdings
Deduction
The process of choosing how to handle money or financial information
Financial Decision-Making
A statement showing money owed for a product or service
Bill
The act of putting money into a bank account
Deposit
The maximum amount of money someone is allowed to borrow on a credit card
Credit Limit
This tax is collected by the US government on money earned by workers
Federal Income Tax
Money owed to another person, business, or institution
Debt
The total amount of money earned before any deductions
Gross Pay
Taking money out of a bank account
Withdrawal
The smallest amount a credit card user is required to pay by the due date
Credit Score
State Income Tax
The chance that a financial choice or investment may result in loss or gain
Risk
The amount of money a worker takes home after deductions
Net Pay
Money earned from saving, or the cost of borrowing money
Interest
This number represents information about how someone has handled borrowed money in the past
Credit Score
A federal program whose contributions appear on most paychecks as a required deduction
Social Security
Something purchased with the expectation that it may change in value over time
Investment