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5 Finance Lit
Budgets TEK 5.10 C/D/E/F
Term | Definition |
---|---|
Balanced Budget | A budget in which the amount of money spent is the same as the amount of money received. |
Budget | A statement of estimated income and expenses for a period of time. |
Check | A document that orders a bank to pay a specific amount of money from a person's account to the person in whose name the it has been issued. |
Credit Card | A card with which a person can buy things and pay for them later. |
Debit Card | A card that will cause the money spent to instantly be deducted from their checking account. |
Net Income | The amount an individual earns after subtracting taxes and other deductions from gross income. |
Expense | Money needed to buy or do something; cost. |
Income | Money earned from working, investments or doing business. |