Unit 1: Earning & Spending REVIEW

Amount of money gained and spent in a given time period.

• Stock

• Investment

• Escrow

• Budget

Total amount paid to employee before taxes and deductions.

• Gross pay

• Net pay

• Take-home pay

• Pay day

Money taken out of gross income for things like taxes and FICA.

• Expenses

• Deductions

• Take-home pay

• Subtractions

Smaller amount of pay left over after taxes and deductions.

• Gross

• Net/take-home pay

• After gross deduction

• Pay day

Expenditures taken out of net pay that you control (i.e. rent, utilities)

• Expenses

• Deductions

• Refraction

• Gross neutral factor

The plan you set up to reach your short and long term life goals.

• Bank loan plan

• Credit Union plan

• Financial plan

• Macro economic plan

Putting money into something to make a profit.

• Deduction

• Interest rate

• Devaluation

• Investment

The amount of money someone gets in a given period.

• Taxes

• Deduction

• Income

• Overtime

Bank where profits go back to its members in the form of lower costs.

• Wall Street

• FDIC

• Regional bank

• Credit Union

When a bank lets a person or a group borrow money (a loan)

• Investing

• Purchasing

• Lending

• Diversifying