Financial Literacy & Individual Responsibility Flashcards
Income
The money that a person, a region, a country etc. earns from work, from investing money, from business, etc.
Minimum wage
The lowest wage that an employer is allowed to play by law
salary
Money that employees receive for doing their jobs, 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.
budget
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
Financial Literacy
The ability to use knowledge and skills to manage one’s financial resources effectively for a lifetime of financial wellbeing
career
The series of jobs that a person has in a particular area of work, usually involving more responsibility as time passes
college
A place where students can study for a basic degree after they have finished high school’
university
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
vocational school
A school that teaches skills that are necessary for particular jobs, especially in trades;usually offers certificates, not degrees
Invest
To buy property, shares in a company, etc. in the hope 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
job
Work for which you receive regular payment
unemployment
The state of not having a job
inflation
A continual increase in the price of goods and services
income inequality
The extent to which income is distributed in an uneven manner among a population
needs
To be in a condition or a situation in which you must have something
