Financial Literacy Vocabulary

Money people pay to support the government.

• Net Income
• Gross Income
• Taxes
• Deposit

The total amount of money a person earns.

• Gross Income
• Net Income
• Deposit
• Taxes

The amount of money a person receives after deductions are taken from gross income.

• Gross Income
• Net Income
• Deposit
• Taxes

Money put into a person's account.

• Debit
• Deposit
• Budget
• Taxes

Money taken out of a person's account.

• Debit
• Deposit
• Budget
• Taxes

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

The amount of money in a person's account.

• Deposit
• Debit
• Balance
• Budget

Tags

CCSS.6.NS.C.5

A plan for how much income will be received and how it will be spent.

• Balance
• Balanced Budget
• Budget
• Deposit

A budget in which the total amount of money spent, saved, and shared equals total income.

• Balance
• Balanced Budget
• Budget
• Deposit

Tax that is paid by consumers that the store or business charges on top of the price for the goods or services.

• Taxes
• Income Tax
• Payroll Tax
• Sales Tax

Tags

CCSS.6.RP.A.3B

Tax that is paid by an employer or business. It is paid in addition to salaries paid by the business. 

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