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30 Cards in this Set
- Front
- Back
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Gross Pay
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your pay before deductions are taken out of your check
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Net Pay
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your pay after deductions are taken out
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skills and/or knowledge
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one must have these to have a job, the more you have of them the easier to get a job
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Budget
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a system estimates income versus expenses
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mandatory deduction
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These are required by law to be taken out of the paycheck. ex-taxes
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optional deductions
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chosen by the workers to be taken out of the paycheck.
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wants
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goods or services a person doesn't have to have to live.
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Needs
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Things we must have to live
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Credit
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Receiving funds to buy goods or services with the promise to pay the funds back
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Principal
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amount originally borrowed
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interest
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The amount the borrowermust pay to be pay to borrow funds
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Down payment
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is what you pay for a product or service before you get a loan for item
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credit score
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is how people are graded on previous loans that they have taken out and the likelihood the person will pay it back.
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secured loan
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this is a loan that is backed by collateral from the borrower
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unsecured loan
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a loan that is only backed by a commitment to pay the loan back.
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collateral
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an asset that is put up against a loan that could be sold to pay back the loan.
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stafford loan
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federal student loans
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Depreciation
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a reduction in value of an asset over time (cars, etc..)
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credit card
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a loan that is given to the card holder that is to be payed back each months
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insurance
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is a guarentee by a company to pay for losses or damages
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Co-Pay
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is what a person pays when they go to the doctor. the insurence company pays the rest.
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Premium
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is what your payment to the insurence company is called
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stock
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is ownership ina company that can be bought
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IPO
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initial public offering.. is the price that a company first trades for when it becomes public.
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bull market
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an extended period of growth and confidence in the market
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bear market
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is an extended period of decline and confidence in the market
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SEC
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securities and exchange commision.- regulates and manages the different securities markets to protect the investors.
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S&P 500
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standard and poors 500- companies that are a reflection of the market
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Dow
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dow jones industrial average- is 30 companies that are a reflection of the market
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dividend
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is when companies distribute earnings to share holders
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