Updated Vocabulary (Words 1-17)

employee

• one who is paid to do a job

• a person who manages a team

• someone who works for free

• a contractor who is self-employed

debit

• to take money away (my account was debited after I bought new sneakers)

• to add money to an account

• to transfer money between accounts

• to withdraw cash from an ATM

soft skills

• personal skills like being a problem solver, clearly communicating, strong time management

• technical skills related to specific job functions

• hard skills such as coding and data analysis

• physical skills like manual dexterity and strength

deduction/withholding

• money taken from a paycheck by the employer for things like Social Security, Medicare, federal taxes, state taxes, retirement accounts, investment accounts, health insurance

• a bonus given to employees for exceptional performance

• a fee charged by banks for account maintenance

• a tax refund received at the end of the financial year

withdrawal

• money taken out of an account by the account owner

• a fee charged for maintaining an account

• a type of investment strategy

• a method of transferring funds between accounts

employer

• the one who gives jobs and pays others wages

• a person who is looking for a job

• a type of employee

• a government official

State Taxes

• Money taken from gross pay that goes to the state you live in

• Fees paid for federal services

• Voluntary contributions to local charities

• Payments made for public transportation

income

• the money earned

• a type of investment

• a government tax

• a form of debt

resume

• a document listing a job seeker’s education, experience, skills

• a type of cover letter

• a summary of a company's financial performance

• a list of job openings in a company

gross wages

• the total amount of money earned after taxes and deductions

• the amount of money earned before any deductions are taken out of a paycheck

• the net income received after all deductions

• the hourly rate multiplied by the number of hours worked