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Personal Finance

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