Personal Finance Vocab flashcard

Front

Deduction

Back

Money subtracted from a paycheck.

Front

Net pay

Back

Money taken home after deductions

Front

Gross Pay

Back

Amount of money you actually earn.

Front

Social Security

Back

government retirement fund for older people

Front

Medicare

Back

government medical insurance for older people

Front

Overtime

Back

Work performed beyond required or normal hours.

Front

Salary

Back

Money earned based on a contract, not an hourly wage.

Front

Loan

Back

Money borrowed, expected to be repaid with interest.

Front

Interest

Back

Amount paid for using borrowed money.

Front

Lease

Back

Long-term "rental" of a car.