Financial Literacy Vocabulary

The money that is taken out of your paycheck, including payroll tax and health insurance.

Safe way to mail a payment

Takes time to fill out while other people are waiting in line

The money you put into your account

The money you have in your account.  It changes when you make a deposit or have a debit. 

Occurs when the total amount of money spent, saved, or shared equals the total income

A plan for how much income will be received and how it will be spent, saved, or shared.  

Must have internet access

Money taken out of your account when you write a check, use a debit card, or get cash. 

Another name for "take-home" pay

Money people pay to support the government

The amount of money you receive AFTER deductions are subtracted 

This tax is paid when you have income from a job. 

Safe way to make online payments

If you don't have enough money to buy a new pair of shoes.... what should you do?

Works like a loan taken from the bank

This tax is withheld from a worker's paycheck each month

This tax is paid whenever you buy things

This tax is paid when you own property, such as a home. 

The total amount of money that you earn from your job BEFORE deductions are taken out