Financial Literacy Vocabulary Terms

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Property Tax

Back

Additional money paid for LAND or any BUILDINGS on the land.

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Credit Card

Back

An identification card issued by a bank that allows a user to buy items and services immediately and pay the cost at a later time, often with interest.

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Income

Back

Money earned.

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Sales Tax

Back

Money added to the cost of items or services.

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Deposit

Back

Put money into an account.

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Debit Card

Back

A card issued by a bank that allows a user to buy items and services using money directly from their bank account.

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Loan

Back

Money borrowed that must be paid back with interest.

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Interest

Back

The cost of borrowing money, usually expressed as a percentage.

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Tax

Back

A mandatory financial charge imposed by a government.

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Payroll Tax

Back

A tax imposed on employers or employees, usually calculated as a percentage of the salaries that employers pay their staff.