Personal Finance Vocab

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

A spending or savings plan.

• budget

• payroll taxes

• balanced budget

• expense

Anything that you spend money on.

• income

• expense

• deposit

• withdrawal

Money earned through work.

• withdrawal

• expense

• deposit

• income

the money paid by the borrower to the lender for the use of the lender's money

• interest
• savings plan
• scarce
• purchase

Interest

• payment made for the use of borrowed money

• show attention

•  financial plan of revenue and expendtitures

• total amount of money owed

debt

• total amount of money owed

• short term US government IOU for a period of years.

• a payment card issued to users as a method of payment

• payment made for the use of borrowed money

investment

• purchase with the hope that it will generate income or appreciate in the future

• persons or institutions to whom money is owed

• total amount of money owed

• a payment card issued to users as a method of payment.

Which of the following best describes income?

• Money given to a charity that helps others.

• Money received for completing a chore or task.

• Money received from a parent to pay for lunch.

• Money spent on new clothes and shoes for school.