Personal Finance

1. amount of money needed for basic expenses
4. a current medium of exchange in the form of coins and bank notes
5. a sum of money placed or kept in a bank account usually to gain interest
7. amount of money borrowed by one group to another
8. portion of money where your employer takes money out of your paycheck and sends it to the federal government
10. an expense that is subtracted from gross pay
19. regular compensation that an employee receives for work
21. the income over which the government imposed tax
22. a resource with economic value that someone owns with the expectation that it will benefit them in the future
25. tax levied by a government directly on income, annual tax on personal income
27. a tax on sales or on the receipts from sales

1. occurs when interest is added to the principal account
2. business expenses that are not dependent on the level of goods or services (stay the same)
3. the total wealth of an individual, company, or household
6. a bank account which checks can be drawn by the account depositor
9. estimation of revenue and expenses over a future period of time
11. the cost of an operation that a company includes to make revenue
12. a sum of money lent or invested, on which interest is paid
13. something a person or company owes usually a sum of money
14. a common form of valuation in sales contract for goods sold in bulk purchasing
15. what is left after deductions
16. expenses that can change over time
17. money received, for work or through investments
18. calculated on principal portion of a loan the original contribution to a savings account
20. a legal agreement by which a bank or other creditor lends money at interest in exchange for taking the title for the debtors property
23. the money left over when they subtract their consumer spending
24. income (total pay) before taxes are pulled
26. a small plastic card issued by a bank, business, allowing the holder to buy goods or services on credit