Save
Upgrade to remove ads
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Money Vocab

TermDefinition
Barter The direct exchange of one set of goods and services for another
Cash card/gift card Store or agency specific cash/gift cards that have a $ balance on the card.
Cashless society There are methods for receiving and/or earning $$ or paying for goods & services other than cash
Check A paper document that directs a bank to pay an amount of money to a person or business.
Credit Card A card issued by a financial institution (bank) that allows consumers (holder of card) the option of borrowing funds on credit at point of sale.
Debit Card Allow consumers to withdraw directly from bank checking OR savings account.
Dependents A person who relies on someone else for financial support. You claim these on your tax return.
Earnings Money obtained in return for labor or services.
Electronic Transfer Online payment of bills AND/OR online payment for goods and services.
Employment benefits Things like health insurance and retirement that are perks for working a job.
Exemption/Allowance Reduces taxable income on paychecks during year (example: spouse or children).
Federal Taxes Money you pay the federal government out of your earnings.
Fringe benefit An extra benefit supplementing an employee's salary, for example, a company car, subsidized meals, health insurance, etc.
Gross wages The amount of money you make before taxes are taken out
Income Money received, especially on a regular basis, for work or through investments.
Garnishment A court order directing that money or property of a third party (usually wages paid by an employer) be seized to satisfy a debt owed (like child support).
Human capital The skills, knowledge, education and health that a person possesses.
Income tax deductions Items you can claim to help you get a tax refund (childcare costs, student loan interest, etc.)
Inflation A general increase in prices, your money is worth less than it used to be.
Inheritance Someone leaves you money when they pass away.
Internal Revenue Service The government agency in charge of collecting taxes
Local taxes Money you pay the local government (like Chesterfield County) out of your earnings.
Money A medium of exchange, measure of value and store of value.
Money order A printed order for payment of a specified sum, issued by a bank or post office.
Net pay The amount of money you make after taxes are taken out
Paycheck Shows you how much you've made in a given period of time (1 week, 2 weeks, 1 month)
Payroll deductions Amounts withheld from an employee's check, for example, health insurance or FICA taxes
Purchasing power The financial ability to buy products and services or The value of a sum of money
Profit A financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.
Rental income Income that comes from owning a home or business that someone else occupies
Social Security Tax (FICA) The tax levied on both employers and employees used to fund the Social Security program. Social Security tax is usually collected in the form of payroll tax.
State taxes Money you pay the state government out of your earnings.
Store card Like a credit card, but for a specific store (like Best Buy).
Supply and demand The amount of a good or service available and the desire of buyers for it.
Tax refund The return of extra amounts of income tax that a taxpayer has paid to the state or federal government throughout the past year.
United States Treasury Department Government agency in charge of printing money (through Bureau of Engraving and Printing) and collecting taxes (through the IRS).
Upward mobility What people hope to gain through development of their human capital.
Windfall income Money you make through things like the lottery.
Wages Your pay (hourly/daily rate)
Created by: cspolin
Popular Social Studies sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards