Unit 9 Vocabulary

a way of organizing income and expenses over a period of time

• Personal Budget

• Net Worth

• Assets

• Liabilities

amount of money that you owe to a financial institution

• Personal Budget

• Net Worth

• Assets

• Liabilities

an item or amount of money that you own

• Personal Budget

• Net Worth

• Assets

• Liabilities

the value of what you own minus the value of what you owe

• Personal Budget

• Net Worth

• Assets

• Liabilities

expenses that do not change from month to month

• Fixed Expenses

• Variable Expenses

• Sales Tax

• Income Tax

expenses that vary from month to month

• Fixed Expenses

• Variable Expenses

• Sales Tax

• Income Tax

a percentage charged on goods or services

• Fixed Expenses

• Variable Expenses

• Sales Tax

• Income Tax

a percentage deducted from income that you earn

• Fixed Expenses

• Variable Expenses

• Sales Tax

• Income Tax

interest earned only on the principal, or original amount deposited in the account

• Simple Interest

• Sale

• Rebate

• Coupon

when the cost of an item is reduced for a period of time

• Simple Interest

• Sale

• Rebate

• Coupon