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2.03

5th Stack

TermDefinition
Expense Money spent.
Gross Income An individual's income earned as salary or wages before taxes and other deductibles.
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 consumption.
Wages or salary before deductions A fixed regular payment, typically paid on a daily or weekly basis, made by an employer to an employee, especially to a manual or unskilled worker.
Commissions An instruction, command, or duty given to a person or group of people.
Tips A piece of advice or expert or authoritative information
Bonuses An amount of money added to wages on a seasonal basis, especially as a reward for good performance.
Tax Refunds The difference between taxes paid and taxes owed.
Interest Earned An amount earned by a company on its interest bearing bank accounts or other investments.
Investment Earnings Income coming from interest payments, dividends, capital gains collected upon the sale of a security or other assets, and any other profit that is made through an investment vehicle of any kind.
Sales of Assets The compensated distribution of valuable property that can be tangible or intangible.
Money from savings An amount of money you get from saving.
Money from Investments An amount of money you get from making investments.
Scholarships/grants from non-government sources. Scholarships and grants that come from non-government funded sources.
Money from others Money borrowed as unsecured loans, or contributed by smaller stockholders.
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 A financial award given by the federal, state or local government to an eligible grantee.
Government programs such as Social Security and worker's compensation Programs and activities sponsored or administered by local, state, or national governments.
Created by: ZLittle97