personal finance 3
Terms
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- negotiatinga check
- cashing a check or depositing it into an account
- take-home
- another name for net pay
- title search
- a legal search of town records to be certain that the owner can legally sell his/her house
- net
- total pay minus payroll taxes
- Ledger
- a book or chart that lists financial transactions, also called a register
- rubric
- a scoring sheet keyed to standards and used to evaluate work
- defaulting on a loan
- not repayinga loan as promised
- minimum hourly wage
- a dollar ammount per hour established by the government that defines the least ammount all employers must pay their emplyees
- property taxes
- taxes paid tothe town or city based on the value of you house and land
- liability insurancce
- insurance that protects indiviuls from lawsuits where they may have been at fault
- minimum payment
- theleast ammount you must pay each month on a credit card charge account
- pension
- a percent of your salary paid for after you retire
- gross
- total before payroll taxes
- incentive
- a rewrd or something positive that is generally used to incourage someine to do something
- net worth
- the value of your assets minus your debts
- FICA
- federal insurance contribution act, also known as Social security tax(payroll tax that supports aminimum living allowence in retirement)
- note
- another name for loan
- post
- to record
- debit card
- a card that allows an individual to pay for a purchase with money electronicly taken form an account
- deductible
- the ammount that the individual must pay before the insurance company pays its share
- debit
- a transaction that takes money from an account
- savings
- money set aside, generally in a bank or investments. which earns interest
- principal
- the intitial amount of loan before interest charges
- transaction
- activity within an account, either a deposit, transfer, or withdrawal
- payroll taxes
- taxes taken out of the pay before issuing a paycheck, including federal income tax, FICA, and Medicare
- debt
- the sum of the money or obligations you owe
- Fixed income
- income that cannot be increased
- POS
- point of sale-whre the person used his/her debit card