Financial Literacy

the income that remains after taxes and other deductions are taken from an individual's gross income

• payroll tax

• net income

tax on wages and salaries to finance Social Security and Medicare costs.

• payroll tax

• property tax

the amount of money collected on the value of a property for the local government as required by law

• sales tax

• property tax

Tags

CCSS.7.RP.A.3

the amount of money collected by a store(retailer), in addition to a good or service that was purchased, for the local government as required by law

• sales tax

• tax

Tags

CCSS.6.RP.A.3D

Money paid to the government in exchange for services, like roads, bridges, and police protections.

• tax

• income tax

Money that wage earners pay the government to run the country. The amount of the tax depends upon how much I earn.

• gross income

• income tax

Income before taxes.

• gross income

• expenses

Tags

CCSS.7.EE.B.3

An expense is an outflow of money to another person or store of other group to pay for good or service.

• budget

• expenses

A plan for saving and spending my money, with the goal of meeting my financial goals (like buying a game, a car when I'm 18, going to college).

• budget

• balance

How much money I have left.

• balance

• budget