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Personal Finance
| Question | Answer |
|---|---|
| Income | What a person earns. E.g. Salary, Wages, Interest |
| Commission | Percentage of a sales price received by a saleserson |
| Dividend | Return on a share |
| Fee | Money received for services completed |
| Overtime | Work completed outside regular hours |
| Rent | Payment for use of another person's building or land |
| Wage | Amount paid to an employee on an hourly rate |
| Salary | Amount paid to an employee on an annual rate |
| Social Welfare Payment | Amount paid by the government to someone in need |
| Superannuation | Saving for retirement |
| Saving | Income not spent |
| Fixed Expenses | Spending that occurs on a regular basis |
| Variable Expenses | Spending that occurs on an irregular basis |
| Impulse Buying | Buying something without thinking about the need for it |
| Net Income | Income after tax has been deducted |
| Interest | Cost of borrowing/return on a deposit |
| Cash Purchase | Buy now, pay now |
| Credit Purchase | Buy a good or service now and pay later |
| Guarantor | Someone who guarantees to repay a loan if the borrower does not |
| Secured Loan | Something deposited as a guarantee to fulfil the payment of a loan. E.g. Deposit |
| Unsecured Loan | Nothing is deposited as a guarantee to fulfil the payment of a loan. E.g. No Deposit |
| Budget | A plan of income and expenditure |
| Budget Surplus | Planned income is greater than planned expenses |
| Budget Deficit | Planned income is less than planned expenses |
| Investment | Putting money into something to make a return E.g. Buying shares |
| Equities | Shares/stocks held by an individual |
| Portfolio | The range of shares/stocks held |
| Term Deposit | Money saved for a set interest rate over a set period |
| Bonds | An I.O.U. issued by the government for a fixed interest rate |
| Share | A unit of ownership in a company |
| Managed Fund | An investment pooled with others to earn a return |
| Kiwi Saver | A government programme to encourage savings by NZ |
| Commodity Trading | Natural resources that are bought and sold to earn a return |
| Foreign Exchange Trading | Buying and selling currencies to earn a return |
| Investment (Eco) | Purchase of new capital goods E.g. Tractor for a farmer |
| Investment (Finance) | Making a profit from a 'deposit' E.g. Buying shares in Warehouse |
| Inflation | An increase in the overall price level |
Created by:
Alice Brockie
Popular Finance sets