Financial Literacy & Individual Responsibility Flashcards
the money that a person, a region, a country, etc. earns from work, from investing money, from business, ect
income
the lowest wage that an employer is allowed to pay by law
minimum wage
money that employees receive for doing their job, especially professional employees or people working in an office, usually paid once or twice a month the amount is fixed by week/month/year, not by hour.
salary
the money that is available to a person or an organization and a plan of how it will be spent over a period of time.
budget
the ability to use knowledge and skills to manage one’s financial resources effectively for lifetime of financial well-being
financial literacy
the series of jobs that a person has in a particular area of work, usually involving more responsibility as time passes.
career
a place where students can study for basic degree after they have finished high school
college
an institution at the highest level of education where you can study for a basic or advanced degree or do research - universities are made up of colleges
University
a school that teacher skills that are necessary for particular jobs, especially in a trades; usually offers certificates, not degrees.
vocational school
to buy property, shares in a company, etc in the hopes of making a profit or to spend money on something in order to make it better or more successful. Can be risky, but also can earn more money.
invest
work for which you receive regular payment
job
thyee state of not having a job
unemployment
a continual increase in the price of goods and services
inflation
the extent to which income is distributed in an uneven manner among a population
income inequality
to be in a condition or situation in which you must have something
needs
