personal Finance vocabulary Flashcards
(18 cards)
Salary
a fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, made by an employer to an employee, especially a professional or white-collar worker
Gross income
Money before tax and expenses
Net income
Money after all the tax and expenses are paid.
Minimum wage
the lowest wage permitted by law or by a special agreement
Overtime
time in addition to what is normal, as time worked beyond one’s scheduled working hours
ATM/Debit Card
your own money
Credit/Credit Card
Money the bank lends you so you ca get your credit up
Credit Limit
A limit the bank sends so you don’t go over it and spend to much money
Credit Rating
an estimate of the ability of a person or organization to fulfill their financial commitments, based on previous dealings.
Account Balance
net amount in an account after summing debits, credits, and any beginning balance
Principal
Money given to a borrower or put into a investment.
Interest
Money charged for borrowing money
Debt
Money you owe people.
Checking Account
A checking account is a bank account where you can make cash withdrawals or deposits.
Savings Account
A bank or credit card union in charge of keeping your money while getting interest
apt
ATP in Finance commonly refers to A Tout Prix, a French term meaning ‘at any cost,’ often used in financial contexts to indicate a willingness to pay any price for an asset or investment.
Mortagae
A mortgage is a loan used to purchase a home or other real estate, where the property itself serves as collateral.
401K
retirement fud sponsered by company
