Spending
Desires that can be satisfied by consuming a good or service.
What are wants?
Deposit account at a bank which pay interest but cannot be withdrawn by cheque writing.
What is a savings account?
A cheque issued to an employee in payment of salary or wages.
What is a paycheque?
A purchase that will lose value over time.
What is depreciation?
Money set aside for unexpected expenses or for living costs in case of job loss.
What is an emergency fund?
A direct tax that a government imposes on the income of its citizens.
What is income tax?
Using your own money on a plastic card.
What is a debit card?
The amount of money a bank or financial institution pays a depositor for holding their money with the bank.
What is interest rate?
A certain amount of income contributed each year for when an employee retires.
What is a pension plan?
What is a credit card?
Desired results from one's efforts to achieve personal economic satisfaction.
What is a financial goal?
Annual pay.
What is salary?
An increase in the price or value of an asset.
What is appreciation?
Removing funds from a bank account.
What is withdrawing?
A sum of money paid to an employee upon completing a sale.
What is a commission?