Personal Financial Literacy Vocab

Vocab: Match the term with the correct definition. Profit Money that is made after all of the expenses and costs are paid. Expense Payment for goods and services. Income Money earned or received. Fixed Expense A cost that doesn't change. Variable Expense The cost of these expense can change regularly. Fixed Income Pay or money earned that stays the same and doesn't change. Variable Income Pay or money earned that can change regularly. Financial Institution A building or establishment that handles money. Withdrawal To spend or use money from a bank account. Deposit To put money into a bank account. Pick the correct category for the example. Fixed Income Teacher Firefighter Accountant Principal Secretary Variable Income Waitress Cashier Custodian Plumber Mechanic Construction Worker Pick the correct category for the example. Use the video to help. Fixed Expense Mortgage Car Payment Phone Payment Cable Insurance Variable Expense Groceries Electricity Gas Entertainment Clothing