This goes over basic money vocab

1. MONEY VOCABULARY
By: Shaan Gill

2. CREDIT
 The ability of a customer to obtain goods or services before payment,
based on the trust that payment will be made in the future.

3. DEBIT
 an entry recording an amount owed, listed on the left-hand side or
column of an account.

4. INTEREST
 money paid regularly at a particular rate for the use of money lent, or
for delaying the repayment of a debt.

5. GROSS PAY
 Gross pay is the term used to describe all of the money you've made
while working at your job, figured before any deductions are taken for
state and federal taxes, Social Security and health insurance

6. NET PAY
 is the amount of wages that employees actually take home. In other
words, net pay is the amount of money on each employee paycheck

7. FIXED EXPENSES
 costs are those that do not fluctuate with changes in production level
or sales volume. They include such expenses as rent, insurance, dues
and subscriptions, equipment leases, payments on loans, depreciation,
management salaries, and advertising

8. VARIABLE EXPENSES
 A corporate expense that varies with production output. Variable costs
are those costs that vary depending on a company's production
volume; they rise as production increases and fall as production
decreases.

9. CONSUMABLE GOODS
 are goods that, according to the 1913 edition of Webster's Dictionary,
are capable of being consumed; that may be destroyed, dissipated,
wasted, or spent

10. DURABLE GOODS
 goods not for immediate consumption and able to be kept for a period
of time.

11. FICA
 Federal Insurance Contributions Act (FICA) tax is a United States federal
payroll (or employment) tax imposed on both employees and
employers to fund Social Security and Medicare—federal programs that
provide benefits for retirees, the disabled, and children of deceased
workers.

12. SALARY
 a fixed regular payment, typically paid on a monthly or biweekly basis
but often expressed as an annual sum, made by an employer to an
employee, especially a professional or white-collar worker.

13. DISCRETIONARY EXPENSES
 is a cost which is not essential for the operation of a home or a
business. For example, a business may allow employees to charge
certain meal and entertainment costs to the company in order to
promote goodwill with employees

14. BUDGET
 an estimate of income and expenditure for a set period of time.

15. CREDIT SCORE
 a number assigned to a person that indicates to lenders their capacity
to repay a loan.

16. FINANCIAL INSTITUTION
 establishment that focuses on dealing with financial transactions, such
as investments, loans and deposits. Conventionally, financial institutions
are composed of organizations such as banks, trust companies,
insurance companies and investment dealers.

17. MORTGAGE
 the charging of real (or personal) property by a debtor to a creditor as
security for a debt (especially one incurred by the purchase of the
property), on the condition that it shall be returned on payment of the
debt within a certain period.