7th financial vocabulary review

Your pay BEFORE deductions are taken out

• net pay

• gross pay

• principal

• mortgage

Your pay AFTER deductions are taken out

• net pay

• gross pay

• mortgage

• principal

items worth monetary value

• liabilities

• interest

• rates

• assessts

Money a person owes (debts)

• wages

• assests

• liabilities

• net worth

payments that happen on a regular basis and are always the same amount

• fixed expenses

• interest

• liabilities

• variable expenses

payments that happen on a regular basis, but are not the same amount

• fixed expenses

• variable expenses

• mortgage

• assests

income from a job

• net worth

• principal

• wages

• interest

the difference between assets & liabilities

• gross pay

• net pay

• variable expenses

• net worth

the amount owed on a house or property

• principal

• mortgage

• assets

• interest

initial amount borrowed or invested

• principal

• fixed expense

• gross pay

• rate