Financial Literacy terms

Question 1

This is when the total amount of money spent, saved, or shared = total income.

Accepted Answer

balanced budget

Question 2

I am the money you pay because you own a home.

Accepted Answer

property taxes

Question 3

This is money put into your bank account.

Accepted Answer

deposit

Question 4

I am money you pay because you have a job.

Accepted Answer

Income taxes

Question 5

This is when money is taken out of your account.

Accepted Answer

debit

Question 6

I am the amount of money you receive after deductions are subtracted from your gross income.

Accepted Answer

net income

Question 7

I am the total amount of money you earn.

Accepted Answer

gross income

Question 8

Money people pay to support governments to pay for things like roads or schools.

Accepted Answer

taxes

Question 9

This is a plan for how much income will be spent, saved, & shared.

Accepted Answer

budget

Question 10

I am paid whenever you buy things.

Accepted Answer

sales taxes

Question 11

I am the total money in your account.

Accepted Answer

balance

Questions 11