Financial Literacy - Middle School 11-20

the tax paid by the consumer when they buy something

• Sales Tax

• Income Tax

• Property Tax

• Value Added Tax

a specific time or instance when money changes hands

• Transactions

• Exchanges

• Deals

• Transfers

The money you receive for working. This is usually a flat amount per week, per month or per year.

• Salary

• Wage

• Bonus

• Commission

to take out of or to subtract from your salary

• Deduct

• Add

• Multiply

• Divide

once a year - yearly

• Annual

• Monthly

• Weekly

• Daily

once a month

• Monthly

• Weekly

• Daily

• Yearly

to take money out of an account

• Withdraw

• Deposit

• Transfer

• Balance

a plan for spending money

• Budget

• Expense

• Revenue

• Investment

a budget where income is greater than expenses (you earn more than you spend)

• Balanced Budget

• Income

• Wage

• Salary

: _______ (an expense that changes each month.)

• Budget

• Income

• Variable Expense

• Fixed Expense