HARTS BLUFF ISD

Fourth Nine Weeks

Personal Financial Literacy

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