Financial Literacy Vocabulary Flashcard

Front

What is the income BEFORE taxes are taken out?

Back

gross income

Front

What is the income AFTER taxes are taken out?

Back

net income

Front

An order in writing to a bank asking that a certain sum of money be paid out of one's account.

Back

check

Front

A portion of the value of items that is paid to a city or state government. This tax can be charged on things such as cards, houses, boats, or land.

Back

property tax

Front

Money added to the cost of items or services.

Back

sales tax

Front

Money an employer withholds from an employee's earnings.

Back

payroll tax

Front

Money paid to a city, town, or state government or to the U.S. government based on income.

Back

income tax

Front

An identification card issued by a bank that allows a user to immediately remove money from an account.

Back

debit card

Front

The additional money paid by a borrower to a lender in exchange for the use of the lender's money (example-credit card).

Back

interest

Front

Money earned

Back

income