Personal finance vocabulary
- 2. Banking 0 Business of depositing and withdrawing money from an account.
- 3. Budget 0 a statement of estimated income and expenses
- 4. Checking 0 an account in a bank from which the depositor can draw money by writing checks
- 5. Taxes 0 to require to pay a tax
- 6. Interest 0 a charge for borrowed money that is generally a percentage of the amount borrowed
- 7. Overdrawing (overdraft) 0 to draw checks on (a bank account) for more than the balance in it
- 8. Adulthood 0 fully developed and mature
- 9. Savings 0 an account (as in a bank) on which interest is usually paid and from which withdrawals can be made
- 10. Simple Interest 0 interest paid or figured on the original amount only of a loan or on the amount of an account
- 11. Compound Interest 0 interest paid or to be paid both on the principal and on accumulated unpaid interest
- 12. Expense 0 something spent or required to be spent
- 13. IRS (Internal Revenue Service) 0 Branch of the federal and state government that collect taxes
- 14. Minimum Wage 0 a wage fixed (as by law) as the least that may be paid to employed persons
- 15. Income Tax 0 a tax on the income of a person or business
- 16. Sales Tax 0 a tax paid on the purchase of goods and services and collected by the seller
- 17. Tax Evasion 0 Someone who avoids paying taxes owed to the government
- 18. Social Security 0 a U.S. government program established in 1935 to include old-age and survivors insurance, contributions to state unemployment insurance, and old-age assistance
- 19. Check Registrar 0 Record of deposits and withdrawals from an account
- 20. Income 0 a gain usually measured in money that comes in from labor, business, or property
- 21. Annual 0 yearly