Fin Lit Final 1

Money received on a regular basis for work or through investments.

• Income
• Budget
• Taxes
• Social Security

Total pay or earnings made over a one-year period before any deductions have been taken.

• Net Monthly Income
• Net Annual Income
• Gross Annual Income
• Gross Monthly Income

Amount of monthly income remaining after all deductions have been taken (sometimes referred to as take-home pay).

• Gross Annual Income
• Net Annual Income
• Gross Monthly Income
• Net Monthly Income

What are the 3 types of taxes?

• interest - social security - poll
• income - sales - property
• investments - SNAP - poverty
• inheritance - selling - purchases

Government insurance system that provides benefits to most Americans who are retired, sick, or too disabled to work,

• Social Security
• Medicare
• Food Stamps
• Medicaid

To commit money to gain a profit or earn interest.

• Interest
• Entrepreneur
• Savings Account
• Invest

Required payments to a government

• deductions
• taxes
• FICA
• 401K

Government insurance program that extends health coverage to almost all Americans age 65 and over

• Social Security
• Medicare
• Food Stamps
• Medicaid

Person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so

• Bank Owner
• Stock Broker
• Entrepreneur
• Insurance Agent

The amount of money originally invested.

• Interest
• Bond
• Mutual Fund
• Principal