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17 Cards in this Set
- Front
- Back
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Gross Pay
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The large amount you get paid, a persons earnings before deductions are taken out.
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Net Pay
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Take home pay
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Pay Stub
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Part of the paycheck that shows gross pay and itemizes you deductions.
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Deductions
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Money taken out of your paycheck
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Salary
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Total amount of money you are paid per week or per year
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Wages
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The hourly rate of pay
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FICA
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The money taken out of social security
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Fixed Expenses
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Expenses that come along on a regular basis
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Flexible Expenses(Variable)
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Flexible or variable ezpenses expenses that change from month to month
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Ledger or Register
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A record of checks that you list in your checkbook
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Reconcile
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Check your checkbook register against the statement that the bank sent you
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Endorse
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Sign your name on the back of the check to cash or deposite it
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Lay Away
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When you purchase something and make small payments on it untill its paid off. (marshalls)
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Installment Plan
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You make payments in regular monthly installments
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Revolving Credit
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Make a purchase and you pay it off, so you are constantly making purchases and payments. Only charged interest on the outstanding balance (Macys, Sears)
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Installment Credit
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A credit Card when you agree to make regular monthly payments (car payment)
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Down Payment
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The money you put down to lower the cost of finance charges to lower the cost of finance charges on a purchase.
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