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Income Cards
Finance 2.04
| Term | Definition |
|---|---|
| Wages or salary before deductions | A fixed regular payment. |
| Commissions | Availability. |
| Tips | A sum of money given to someone as a reward for their services. |
| Bonuses | An amount of money added to wages, especially as a reward for good performance. |
| Tax refunds | The return of excess amounts of income tax that a taxpayer has paid to the state or federal government throughout the past year. |
| Interest earned | The amount of interest you are gaining. |
| Investment earnings | The amount of money you will get from an investment. |
| Sales of assets | The amount of money you obtain from selling your assets. |
| Money from savings | The amount of money that you are saving. |
| Money from investments | The amount of money you get from investing. |
| Scholarships/grants from non-government sources | Awards based on academic achievements that are meant to help pay for students education and are not hosted by the government. |
| Money from others | Money owned by others. |
| Child support | court-ordered payments, typically made by a noncustodial divorced parent, to support one's minor child or children. |
| Scholarships/grants from government sources | Scholarships that are hosted by the government, that help pay for a student's education. |
| Government programs such as Social Security and worker's compensation | Federal insurance that helps the poor, injured, elder, and orphaned. |
| Expense | Money spent. |
| Gross income | An individual's income and expense transactions that have taken place over a specific period of time, usually a month or year. |
| Income | Money received. |
| Income and Expense Statement | Lists and summarizes income and expense transactions that have taken place over a specific period of time, usually a month or year. |
| Insurance | A product that transfers risk from an individual to an insurance company or organization. |
| Mortgage | A payment, usually monthly, applied to the balance of a home loan used when purchasing housing. |
| Net gain | When income is greater than expenses. |
| Net income | Take home pay. |
| Net loss | When expenses are greater than income. |
| Savings | The portion of current income not spent on consumptions. |
Created by:
Tou Xiong
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