Financial Literacy

4. budget an organized plan for money in which total income equals the total expenses for a period of time
6. income the total amount of money a worker earns before taxes and other deductions are withheld
8. a person or a business that loans money
11. income is the total amount of money a worker earns after taxes and other deductions are withheld
12. money that is borrowed by a person to purchase goods or services; the borrower agrees to pay money over a set period of time with interest
13. expense a cost that is the same each month and that cannot be easily adjusted to balance a budget; for example, car payment or rent
15. card is a card issued by a bank that a consumer uses to pay for purchases with money from a checking account
16. card is a card, issued by a bank, store or other business that is used to borrow money or buy goods and services on credit; consumers make regular payment to repay the bank, store or business
18. tax is money withheld from a worker's paycheck to fund federal programs such as Social Security and Medicare

1. expense a cost that may change from month to month and that can be easily adjusted to balance a budget; for example restaurant meals or movie teickets
2. an organized plan, developed by a person, family or business for spending and saving money.
3. a regular payment, usually hourly or weekly, paid to a worker by an employer
5. tax is a yearly tax on homes, land and other property that helps pay for local needs such as schools, firefighters, etc
7. money placed into a checking or savings account at a bank
9. tax is a yearly federal tax on a person's earnings
10. money paid by a borrower in exchange for using a lender's money for a certain period of time
14. money removed from a savings or checking account
16. a slip of paper that is filled out to allow a bank to take money from a checking account to pay for a purchase
17. tax is a city or a state tax added to the price of an item