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Ch. 6 ELS Vocabulary

Chapter 6 ELS Vocabulary

TermDefinition
ATM Automated Teller Machine
budget A plan for spending money.
cash Bills and coins that are until for money.
check register A booklet in a check book used to keep track of checks and deposits.
consumer A person who buys goods and services
deposit To put money into a bank or checking account.
expenses The money spent on something.
income Money received for work.
interest A charge for borrowed money
Minimum Balance The smallest amount of money a person can keep in a bank account without having to pay a fee.
PIN A code that allows your ATM card work.
withdrawal To take money out of a bank account.
Gross pay Total amount of money made before deductions
Net pay The amount of money a person receives after deductions have been taken out of the paycheck.
deduction Money taken out of a paycheck.
direct deposit Having a paycheck deposited directly into a bank, instead of getting a paper check.
credit Money that is borrowed with the promise to pay it back.
loan Money borrowed for a certain amount of time.
tax Money that people pay to the government.
sales tax The amount of money added to the price of goods and services.
Created by: ladyg747
Popular Family and Consumer sets

 

 



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