WorksheetsFinancial Literacy Vocabulary 1
Total questions: 12
Worksheet time: 6mins
A systematic plan for the spending of a usually fixed resource, such as money or time, during a given period.
direct deposit
savings account
budget
gross amount
A formal banking relationship established to provide for depositing or withdrawing money.
direct deposit
bank account
interest
withholding tax
Bank account used for payments via debit card, electronic withdrawal (ex. Zelle or Venmo), or written checks.
savings account
income
gross amount
checking account
A plastic card from a bank or other institution authorizing the purchase of goods on credit.
income
credit card
tax return
bank account
An agreement between a company and a bank which allows an employee’s paycheck to be deposited directly into his or her bank account.
bank account
credit card
withholding tax
direct deposit
Total income or profit before deductions.
interest
gross amount
budget
bank account
Amount left over after all deductions are taken out.
savings account
net amount
income
checking account
The amount of money or its equivalent received during a period of time in exchange for labor or services.
savings account
direct deposit
income
budget
Money earned on savings/investments OR money paid for the use of borrowing funds.
savings account
direct deposit
interest
withholding tax
A bank account used to save money over a period of time that earns interest.
checking account
direct deposit
savings account
bank account
A form that must be filed by a worker with the government to report the amount of taxes to be paid.
withholding tax
direct deposit
income
tax return
Taxes that the federal, state, or local governments deduct from a worker’s paycheck.
net amount
withholding tax
gross amount
budget
