Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Personal Finance
| Question | Answer |
|---|---|
| Well-being | Feeling good about one's life |
| Physical well-being | Taking care of your body; physical fitness, Nutrition, and overall bodily health |
| Emotional well-being | How you feel; managing your emotions, stress levels, and self-esteem |
| Intellectual well-being | Gaining and using knowledge; learning, curiosity, and mental stimulation |
| Social well-being | Having a sense of belonging; having a network of friends and family |
| Financial well-being | Managing your money in ways that build a sense of understanding, competence, and control; managing finances, debt levels, and financial security |
| Goal | Something a person intends to acquire, achieve, do, reach, or accomplish sometime in the near or distant future |
| Long-term goal | A goal that will be attained in more than a year |
| Short-term goal | A goal that will be attained in less than a year |
| Value | A fundamental belief or practice about what is desirable, worthwhile, and important to an individual |
| Financial planning | Managing money continuously through life to reach your financial goal |
| Financial goals | Specific objectives that are accomplished through financial planning |
| Needs | Goods or services that are required for survival |
| Want | Desire for goods and services that can increase our quality of life but are not absolutely necessary for survival |
| Opportunity cost | The value of the next best alternative that must be forgone as a result of a decision |
| Trade-off | Giving up one thing for another |
| Interest | The price paid for using someone else's money |
| Interest rate | The percentage rate used to calculate interest |
| Checking account | An account that allows quick access to funds for transactions |
| Savings account | An account that is designed to hold money not intended to be used for daily expenses |
| Savings tools | Accounts offered by depository institutions whose main purpose is to help people manage their money |
| Online banking | Allows customers to complete certain transactions through a secured website using a username and password from any place in the world in Internet access |
| Mobile banking | Apps developed by many depository institutions which allow online banking access from devices such as cell phones, tablets, or other mobile devices |
| Depository institutions | Business that provide financial services |
| Credit union | Depository institutions that offer many banking services and are owned by their customers |
| Debit card | A plastic car that is electronically connected to the cardholders depository institution account |
| Contactless payment | Payment transactions that can be completed with no physical connection between the payment device and the physical point of sale (POS) terminal or store clerk |
| Commercial bank | For-profit depository businesses that offer financial services to both consumers and other businesses |
| Automated teller machine (ATM) | Machines that allows depository institution customers to complete certain transactions from the machine without the need for human assistance |
| Outlays | The spending or disbursement of money |
| Income tax | A tax on earned and unearned income |
| Digital Asset | Things of value you own online or in digital form |
| Dependent | A person who relies on someone else for financial support |
| Civic duty | An action required by law for a citizen to preform |
| Cash apps | Digital apps that allow you to send and receive money from individuals |
| Anticipated income | Money the government expects to receive from income taxes paid by citizens during a year |
| Adjusted Gross Income (AGI) | An individual's gross income minus specific deductions |
| Earned Income Credit | Refundable tax credit for low-to-moderate income working individuals and couples, particularly those with children |
| Gig worker | Someone who works and I spaid each time specific job is preformed, such as working as a server for a banquet, trimming trees for individual homeowners, braiding or styling hair for individuals at their home |
| Independent Contractor | An individual that provides goods or services but does not have income tax withheld from payment |
| Infrastructure | The fundamental facilities and systems serving a country, city, or area, such as transportation and communication systems, power plants, and schools |
| Tax revenue | Government income due to taxation; income available to the government to spend on the citizens and programs |
| Reconciling | To bring into agreement; in this lesson specifically comparing the amount of income tax you actually paid with what you should have paid and determining if you paid too much or too little |
| Progressive taxation | The forms of taxation adopted by the U.S. that taxes citizens based on their incomes, taxing the wealthy at a higher rate-- the higher your income, the higher your tax liability |
Created by:
bing.bong