Financial Literacy Vocab Quiz

Matching Match the Vocab Word to the Correct definition Budget a monthly or yearly spending plan Check Written Documentation telling a bank to pay a specific amount to a person or organization Credit Card Card that can be used to borrow money Debit Card Bankcard linked to an individual's account Electronic Payments Payment using security features on the internet Expenses payment for goods or services Deduction Something that is taken away Match the Vocab Word to the Correct definition Income Tax money paid by an individual to the federal government based on income Payroll Tax Money paid by the employer to the federal government based on employees income. This includes Medicare and Social Security Property Tax amount of money collected from the owner based on value of a property (Land, house, etc) Sales Tax amount of money collected at a store in addition to a good or service purchased Match the Vocab Word to the Correct definition Gross Income Income before before taxes and deductions Net Income Income after taxes and deductions Income Money earned or received Withdrawl taking money out of an account Deposit money placed in a bank account To have a balanced budget the expenses and income must... Expenses Must be more than income Income must be more than Expenses Income and Expenses must Equal