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4th Grade Financial

TermDefinition
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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