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chapter 14 vocab
vocab
17
Finance
7th Grade
11/19/2013

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Cards

Term
Income
Definition
Amount of money a person receives or earns regularly.
Term
Grosspay
Definition
Total pay.
Term
Netpay
Definition
Take-home payment
Term
Withhold
Definition
To take out money.
Term
Income-Tax
Definition
Tax paid to government from pay check.
Term
Social Security
Definition
Federal government Program for all ages.
Term
Medicare
Definition
A health care program by federal government.
Term
F.I.C.A
Definition
Law having to do with taxes that are withheld.
Term
Budget
Definition
A way of saving planned money to spend.
Term
Fixed Expenses
Definition
Expenses people have to pay for things.
Term
Flexible expenses
Definition
Expenses that are irregular.
Term
Interest
Definition
Money that banks pay out to people.
Term
Scholarship
Definition
Money for education or sports.
Term
Loan
Definition
Money to give and be payed back.
Term
Work-study program
Definition
A program that allows students to earn their education.
Term
Grant
Definition
Money for education.
Term
Prioritize
Definition
To put in order.
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