PFL Vocab

Assets

• Items a person OWNS with monetary value

• Money a person OWES

• The initial amount borrowed or saved

• Expenses that occur regularly

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Budget

• An employee's pay before any deductions are taken out

• The tax on the net income of an individual or business

• A plan to reach your financial goals

• To deduct from income

Compound interest

• Items a person OWNS with monetary value

• a unit rate to compare prices

• to deduct from income

• Interest earned or paid on a principal and previous earned or paid interest

Tags

CCSS.7.RP.A.3

Fixed expenses

• Expenses that occur regularly and stay the same

• Money a person OWES

• To deduct from income

• A tax on the net income

Tags

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

Gross Pay

• Money a person OWES

• To deduct from income

• An employee's pay before any deductions are taken

• a tax on the net income

Tags

CCSS.7.RP.A.3

Income

• Money that is paid to a person for goods, services, or investments

• The initial amount of money borrowed or saved

• Items a person OWNS with monetary value

• A unit rate used to compare prices

Tags

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

Income tax

• An employee's pay before any deductions are taken

• A plan to help you reach your financial goals

• A tax on the net income of an individual or business

• A percent of the cost of an item

Tags

CCSS.6.RP.A.3C

Interest

• The amount of money charged for borrowing or using money, Or the amount of money earned by saving money

• The initial amount of money borrowed or saved

• A unit rate used to compare prices

• To deduct from income

Tags

CCSS.7.RP.A.3

Interest rate

• Money a person OWES

• To deduct from income

• Items a person OWNS with monetary value

• A percentage earned or paid on money invested or borrowed

Tags

CCSS.7.RP.A.3

Liabilities

• Money a person OWES

• An employee's pay before any deductions are taken

• The initial amount of money borrowed or saved

• Items a person OWNS with monetary value

Tags

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C