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Personal Finance

Vocabulary

TermDefinition
Income money received, especially on a regular basis, for work or through investments.
Wage The amount paid to a worker for the service he or she provides which may vary.
Minimum Wage the lowest pay rate allowed by law for each regular hour of work
Commission amount paid to an employee based on a percentage of the employees sales
Budget A plan for making and spending money
Expenses the cost required for something; the money spent on something.
Mortgage A loan to purchase a home or other real estate
Debt Money owed
Liquid available funds
Interest A sum paid or charged for the use of money or for borrowing money
Lender an organization or person that lends money.
Credit An arrangement to receive cash, goods, or services now and pay for them in the future.
Created by: mgilmour
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