Financial Management Vocabulary Flashcards
Income
Money you get. Money coming into your account.
Expense
Money you spend. Money coming out of your account.
Interest
The price you pay to borrow money.
Recreational Expense
The money you spend on things you WANT.
Essential Expense
The money you spend on things you NEED.
Dependant
A dependant is someone who relies on you to pay for things like food, rent, clothes, etc.
Occupation
This is what you do for work.
Employer
Someone who is your boss at work, gives you a paycheck.
Employee
Someone who is hired at a job, a worker at an organization.
Bill: Due Date
This is the date that the bill is due on. If you don’t pay it on this date then you’ll get fined.
Bill: Statement Date
This is the date that the bill was printed and sent to you.
Bill: Account Number
This is the number that links your bill to your account.
Bill: Account Charges
These are the charges that they are billing to your account for that month.
Bill: Statement Summary
A summary of all the things that they are going to charge you for on that bill.
Credit Card
A card that you use to BORROW money from a bank that you have to pay back later.
