Financial Literacy Vocabulary

1. / is the initial amount of money borrowed or saved.
4. / is an employee's pay before any deductions are taken.
10. / is the total amount of income minus qualifying deductions.
12. / is a fixed percent of the principal. It is found by using the formula I=Prt.
14. / is the amount of an employee's pay that the employer sends to the federal goverment as a partial payment of the employee's yearly income tax.
15. / is the percent of the cost of an item, which is charged by governments to raise money.
16. / is the amount of money charged for borrowing or using money , or the about of money earned by saving money.
17. / is the fee paid to a person who makes a sale expressed as a percent of the selling price.
19. / is a payment for work based on hours worked.

2. / is interest earned or paid on a principal and previously earned or paid interest.
3. / is money a person owes.
5. / is money that is not spent by a consumer.
6. / is a plan to help you reach your financial goals.
7. / is a fee paid to a person for making a sale.
8. / is the percent charged or earned on an amount of money.
9. / is the difference between the monetary values of a consumers assets and liabilities.
11. / are expenses that occur regularly and stay the same.
13. / is the amount that remains after all deductions are taken out from gross pay.
16. / is money that is paid to a person for goods, services, and investments.
18. / are items a person owns with monetary value.