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Fourth Nine Weeks

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Personal Financial Literacy

  1. Income – money coming into your possession  Image result for money in pocket
  2. Expense – money being spent; going out of your possession Related image
  3. Profit – making money; extra money; in the black  Image result for profit
  4. Loss – losing money; going into debt; in the red Related image
  5. Loan – a sum of money lent with interest Image result for loan of money
  6. Credit – a system of buying while paying at a later date Image result for credit
  7. Interest – a charge for borrowing money; usually a percentage Image result for interest rate 
  8. Payment – an amount of money paid Image result for payment methods
  9. Gross income – income before taxes Image result for gross income
  10. Net Income – income after taxes Related image
  11. Payroll taxes – money taken out for iincome tax, social security, medicare, etc.  Image result for payroll tax definition