Shared Flashcard Set

Details

Reality Store
Words
92
Other
7th Grade
03/01/2007

Additional Other Flashcards

 


 

Cards

Term
Beneficiary
Definition
a person designated as the one who will receive money or other property under a will or insurance policy.
Term
Child Care
Definition
Someone besides the parents are responsible for the care of small children and are paid for this service.
Term
Child Support
Definition
court-ordered support paid by one spouse to the other who has custody of the children after the parents are separated
Term
Generic (drugs)
Definition
prescription drugs commonly sold under a brand name and sold in a package without a brand label.
Term
Health Insurance
Definition
Insurance (that you pay for on a monthly basis) that is used against expenses that you may get as a result of sickness or hospitalization.
Term
Inheritance
Definition
The practice of passing on property or money to someone upon the death of an individual.
Term
Life Insurance
Definition
Insurance that guarantees a specific sum of money to a designated beneficiary upon the death of the insured or to the insured if he or she lives beyond a certain age.
Term
Will
Definition
a document that makes the wishes known of a person who has died. This document determines how his/her property/money is divided up among relatives. Inheritance
Term
Career
Definition
"an occupation or profession, esp. one requiring special training."
Term
Job
Definition
"a piece of work, esp. a specific task done as part of the routine of one's occupation or for an agreed price."
Term
Monthly Wage
Definition
the amount of money you earn each month after working at your job.
Term
Expenses
Definition
anything you have to pay for
Term
Social Security
Definition
"A government program that provides economic assistance to persons faced with unemployment, disability, or agedness, financed by employers and employees."
Term
Charity
Definition
"a non-profit organization that depends on the contributions of money, etc. from others. "
Term
Disability
Definition
when a person can no longer work because of a physical problem that
Term
Vocational School
Definition
usually a 1-2 year program that teaches a skill/trade/vocation
Term
Scholarship
Definition
free money that is awarded to a college student that is based on a certain criteria
Term
Grants
Definition
free money that is awarded to a college student that is based on a certain criteria
Term
College
Definition
a higher learning institution that students attend after completing high school
Term
Associates Degree
Definition
a two year degree from a community college
Term
Bachelors Degree
Definition
a four year specialty degree from a university/college
Term
Masters Degree
Definition
a two year degree beyond a bachelor’s degree
Term
Doctorate’s Degree
Definition
"the highest degree awarded by a graduate school, usually to a person who has completed at least three years of graduate study and a dissertation approved by a board of professors."
Term
Liability Insurance
Definition
insurance that covers you from being sued
Term
Home Insurance
Definition
insurance that covers your home
Term
Renter’s Insurance
Definition
insurance that covers your property/belongs in a rental unit
Term
Down payment
Definition
money that you put down to make a deposit on a home
Term
Taxes
Definition
a government charge on certain items that provide money for the state
Term
Paper Boy
Definition
a person that delivers the daily paper to your home
Term
DSL – Satellite – Cable – Internet – Dial-up
Definition
types of internet service
Term
Agreement (loan signature)
Definition
a legal contract that you sign where you agree to pay back money that is loaned to you.
Term
Cash Check – EFT (Electronic Funds Transfer)
Definition
when you use the network to transfer or withdraw money from your bank account. (EFT machines at a gas station)
Term
Charge Cards
Definition
"A card that charges no interest but requires the user to pay his/her balance in full upon receipt of the statement, usually on a monthly basis. While it is similar to a credit card, the major benefit offered by a charge card is that it has much higher, often unlimited, spending limits. (American Express)"
Term
Credit Cards
Definition
"Credit cards have a set spending limit ($500, $2,500, $25,000, etc.) based on the cardholder's credit rating and current income. You don’t have to pay off the balance each month, but an interest charge (sometimes over 20%) is charged on the unpaid balance."
Term
Debit
Definition
when money is subtracted from your account (debit card)
Term
Earnings
Definition
money earned as a result of providing a service. (paycheck)
Term
Income
Definition
"money that you earn or is given to you. (paycheck, bonus at work, birthday money)"
Term
Interest
Definition
a fixed charge for borrowing money; usually a percentage of the amount borrowed.
Term
Legal Fee
Definition
a fee paid for proving a legal service. (lawyer’s fee)
Term
Loans
Definition
money that is lended to individuals with the understanding that it will be paid back.
Term
Overpayment
Definition
to pay more than the amount due.
Term
Savings
Definition
putting money aside in a bank that you do not use for expenses.
Term
Savings Bond
Definition
"a formal certificate of indebtedness issued in writing by governments or business corporations in return for loans. It bears interest and promises to pay a certain sum of money to the holder after a definite period, usually 10 to 20 years."
Term
Savings Club
Definition
"putting money aside on a consistent basis in order to use for a specific purpose (Christmas Savings Club, Vacation Savings Club)"
Term
Stock
Definition
The capital raised by a corporation through the issuance and distribution of shares.
Term
Withdrawal
Definition
taking money out of your bank account
Term
Beneficiary
Definition
a person designated as the one who will receive money or other property under a will or insurance policy.
Term
Child Care
Definition
Someone besides the parents are responsible for the care of small children and are paid for this service.
Term
Child Support
Definition
court-ordered support paid by one spouse to the other who has custody of the children after the parents are separated
Term
Generic (drugs)
Definition
prescription drugs commonly sold under a brand name and sold in a package without a brand label.
Term
Health Insurance
Definition
Insurance (that you pay for on a monthly basis) that is used against expenses that you may get as a result of sickness or hospitalization.
Term
Inheritance
Definition
The practice of passing on property or money to someone upon the death of an individual.
Term
Life Insurance
Definition
Insurance that guarantees a specific sum of money to a designated beneficiary upon the death of the insured or to the insured if he or she lives beyond a certain age.
Term
Will
Definition
a document that makes the wishes known of a person who has died. This document determines how his/her property/money is divided up among relatives. Inheritance
Term
Career
Definition
"an occupation or profession, esp. one requiring special training."
Term
Job
Definition
"a piece of work, esp. a specific task done as part of the routine of one's occupation or for an agreed price."
Term
Monthly Wage
Definition
the amount of money you earn each month after working at your job.
Term
Expenses
Definition
anything you have to pay for
Term
Social Security
Definition
"A government program that provides economic assistance to persons faced with unemployment, disability, or agedness, financed by employers and employees."
Term
Charity
Definition
"a non-profit organization that depends on the contributions of money, etc. from others. "
Term
Disability
Definition
when a person can no longer work because of a physical problem that
Term
Vocational School
Definition
usually a 1-2 year program that teaches a skill/trade/vocation
Term
Scholarship
Definition
free money that is awarded to a college student that is based on a certain criteria
Term
Grants
Definition
free money that is awarded to a college student that is based on a certain criteria
Term
College
Definition
a higher learning institution that students attend after completing high school
Term
Associates Degree
Definition
a two year degree from a community college
Term
Bachelors Degree
Definition
a four year specialty degree from a university/college
Term
Masters Degree
Definition
a two year degree beyond a bachelor’s degree
Term
Doctorate’s Degree
Definition
"the highest degree awarded by a graduate school, usually to a person who has completed at least three years of graduate study and a dissertation approved by a board of professors."
Term
Liability Insurance
Definition
insurance that covers you from being sued
Term
Home Insurance
Definition
insurance that covers your home
Term
Renter’s Insurance
Definition
insurance that covers your property/belongs in a rental unit
Term
Down payment
Definition
money that you put down to make a deposit on a home
Term
Taxes
Definition
a government charge on certain items that provide money for the state
Term
Paper Boy
Definition
a person that delivers the daily paper to your home
Term
DSL – Satellite – Cable – Internet – Dial-up
Definition
types of internet service
Term
Agreement (loan signature)
Definition
a legal contract that you sign where you agree to pay back money that is loaned to you.
Term
Cash Check – EFT (Electronic Funds Transfer)
Definition
when you use the network to transfer or withdraw money from your bank account. (EFT machines at a gas station)
Term
Charge Cards
Definition
"A card that charges no interest but requires the user to pay his/her balance in full upon receipt of the statement, usually on a monthly basis. While it is similar to a credit card, the major benefit offered by a charge card is that it has much higher, often unlimited, spending limits. (American Express)"
Term
Credit Cards
Definition
"Credit cards have a set spending limit ($500, $2,500, $25,000, etc.) based on the cardholder's credit rating and current income. You don’t have to pay off the balance each month, but an interest charge (sometimes over 20%) is charged on the unpaid balance."
Term
Debit
Definition
when money is subtracted from your account (debit card)
Term
Earnings
Definition
money earned as a result of providing a service. (paycheck)
Term
Income
Definition
"money that you earn or is given to you. (paycheck, bonus at work, birthday money)"
Term
Interest
Definition
a fixed charge for borrowing money; usually a percentage of the amount borrowed.
Term
Legal Fee
Definition
a fee paid for proving a legal service. (lawyer’s fee)
Term
Loans
Definition
money that is lended to individuals with the understanding that it will be paid back.
Term
Overpayment
Definition
to pay more than the amount due.
Term
Savings
Definition
putting money aside in a bank that you do not use for expenses.
Term
Savings Bond
Definition
"a formal certificate of indebtedness issued in writing by governments or business corporations in return for loans. It bears interest and promises to pay a certain sum of money to the holder after a definite period, usually 10 to 20 years."
Term
Savings Club
Definition
"putting money aside on a consistent basis in order to use for a specific purpose (Christmas Savings Club, Vacation Savings Club)"
Term
Stock
Definition
The capital raised by a corporation through the issuance and distribution of shares.
Term
Withdrawal
Definition
taking money out of your bank account
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