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PCS Personal Fin

Personal Finance Key Terms Ch. 11

TermDefinition
earned income any income (wages/salary) that is generated by working
income tax tax paid out by anyone who earns an income
passive income Money earned on a regular basis with little or no effect required to maintain it. Some things that produce passive income are real estate, intellectual property like books or internet content, or a business in which the owner is not actively involved
personal branding the process by which we "market" ourselves to others; involves highlighting personal strengths, interests and unique qualities and identifying goals
portfolio income income generated by selling an investment at a higher price than you paid for it
property taxes taxes paid by anyone who owns property such as land, a home or commercial real estate
resume a brief account of one's professional or work experience and qualifications, often submitted with an employment application
sales tax tax on goods and services that goes to your state or local government
social security a federal insurance program funded by taxpayer dollars that provides benefits to people who are retired, unemployed or disabled
Created by: Ms.Sala