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4th Grade Financial
| Term | Definition |
|---|---|
| Expenses | money needed to buy or do something; cost |
| Variable Expense | A cost (expense) that changes from time to time |
| Fixed Expense | An expense that does not change from time period to time period. |
| Borrow (Loan) | The action of taking and using money from a lender under an agreement to pay it back later. |
| Profit | A financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something. Income less all expenses. |
| Lending | The process of loaning an amount of money given to someone for a period of time with a promise that it will be paid back. |
| Income | Money earned for doing a job |
| Financial Institutions | An establishment that focuses on dealing with financial transactions, such as investments, loans and deposits. |
| Spending | Pay out (money) in buying or hiring goods or services. |
| Saving | A bank account that earns modestly good interest, along with the ability to withdraw money easily for modest fees. |
| Withdrawal | To take money out of a bank account |
| Allowance | A sum of money allotted or granted for a particular purpose. |
Created by:
jzschau
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