5th Grade Financial Literacy

Money that people pay to the government

• tax

• income

• credit

• budget

The total amount of income from wages before any payroll deductions

• gross income

• net income

• balanced budget

• tax

A tax on a sale of merchandise or services

• income tax

• sales tax

• property tax

• payroll tax

A tax based on real estate and other property

• income tax

• sales tax

• property tax

• payroll tax

Tags

CCSS.7.EE.B.3

Tax paid to the state, federal, and local governments based on income earned over the past year.

• sales tax

• income tax

• property tax

• payroll tax

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

• income tax

• payroll tax

• sales tax

• property tax

The amount of money you receive after deductions are subtracted from your gross income

• sales tax

• net income

• balanced budget

• debit

Tags

CCSS.7.RP.A.3

A plan for making and spending money

• net income

• budget

• credit card

• income tax

To put money into an account

• deposit

• withdrawal

• credit

• budget

Tags

CCSS.7.NS.A.1A

To take money out of an account

• deposit

• withdrawal

• budget

• net income