Personal Financial Literacy Vocabulary

Something that you pay is called....

• income
• an expense
• a profit
• savings

Alyssa has her first job at the local bakery. After working for one week, she received her first paycheck. The total amount of money she is able to put in the bank is $75.62. What type of income does this amount describe?

• Gross Income
• Net Income
• Both Gross and Net Income
• None of the above

Amanda has to pay taxes on her annual salary and investments. Which type of tax is Kimberly paying? 

• Sales Tax
• Property Tax
• Payroll Tac
• Income Tax

Money you receive before taxes is called:

• gross income
• net income
• pay day
• bank loan

When you own a house, what type of tax do you pay on it?

• income tax
• sales tax
• property tax
• payroll tax

What type of tax do you pay for Cheetos and soda?

• income tax
• sales tax
• property tax
• payroll tax

Which type of tax is taken directly out of your paycheck?

• payroll tax
• income tax
• paycheck tax
• sales tax

Which type of tax do you pay once a year on any money you've earned (job, lottery, etc)?

• payroll tax
• income tax
• sales tax
• property tax

Money that you spend, share, or save.

• expense

• income

• cash

• budget

A spending or savings plan.

• budget

• payroll taxes

• balanced budget

• expense