click below
click below
Normal Size Small Size show me how
Financial Literacy
Financial Literacy for 5th Grade
Term | Definition |
---|---|
gross income | the total amount of income from wages before any payroll deductions |
net income | the amount of money a person takes home after taxes and other deductions |
payroll tax | money withheld from a person's pay check to pay for federal programs |
sales tax | city or state tax added to the price of an item |
property tax | a yearly tax on land , homes or other property |
income tax | yearly federal tax on a person's income |
budget | an organized plan for spending and saving money |
balanced | a budget in which income and expenses are equal |
income | money received in a particular time period in exchange for work |
expenses | money used to pay for goods and services |