Trya Burns Vocab Flashcards
Finances
Money and other resources
Net worth
Dollar value of all the things you own minus the sum of your debts
Assets
Cash and Anything of value that you own
Gross pay
Total earned before taxes and other deductions have been subtracted
Sundries
Small personal and home care items, typically found in grocery stores or drug stores
HMO(Health maintenance organization)
Corporation Made up of doctors and other health professions who provide a range of health care services to employee groups for a set monthly rate,
Debit card
Bank card that you can use like a check to pay for purchase at a store or make transactions on your account using an automatic teller machine
PIN (personal identification number)
Your “secret code” that allows you and no one else to use your account
VOID
Destroy a check by writing void in large letters across it so that no one else can use your account
Cancelled check
Checks that have been processed through the banking system and the amounts have been subtracted from your checking account
Budget
Plan for dividing up income among saving and spending options
Utilities
Essential service such as gas and electricity, water and garbage collection often provided by the government
Liabilities
Money owned
Net pay
Amount of money you take home after taxes and other deductions have been removed.
Premium
Regular payment require to purchase insurance
ATM (Automated teller machine)
Bank computers that allows you to make transactions such as deposit and withdrawals without actually going inside the bank
Reconcile
To make sure that your record of checking account transactions matches your bank records
Outstanding check
Check that has not finished it’s processing route from the payees bank back to yours so your bank has not yet subtracted the amount from your account
Checkbook register
Form for recording all deposits to and withdrawals from your checking account including written checks and electronic transactions
Franchise
One of a chain of individually owned business authorized to sell the chains product
Paycheck stub
Attachment to your paycheck that shows how much you earned and how much money was deducted for taxes, health insurance,
Average
Add up the number and then divide by how many numbers there are
Copayment
Under certain health care plans such as HMO or PPO the porting of the total medical fee or prescription cost that the patient pays
Payee
Person or business to whom the check is written
