Sales, Rebates, Coupons

Income

A financial gain from capital or labor

Rebate

A partial discount or refund given on a purchased item; may be instant, occurring at the time of purchase, or mail in, requiring the purchaser to pay full price for the item and receive money back in the mail.

Budget

A plan for spending

Sale

A special clearance of goods usually at a reduced cost.

Financial Liabilities

what you owe

Variable Expenses

Costs that do change based on the amount that is used; examples: utilities, car fuel, groceries

Fixed Expenses

Costs that do not change based on the amount that is used; examples: car payment, rent, cel phone bill

Compound Interest

Interest paid on the initial principal and on interest earned in the past

Wages

Payments for labor or services

Principal

The amount of money borrowed or deposited

Simple Interest

The amount paid or earned for the use of money. The formula is I=prt

Net Pay

The amount that remains after all deductions are taken from the gross pay

Expenses

The cost required to buy an item or service

Net Worth

The value of one's assets minus one's liabilities

Redeem

To change for money, to redeem a coupon is to exchange the coupon for a discount on goods or services.

Monetary Incentive

financial reasons, such as sales, rebates, and coupons, to buy a particular item

Gross Pay

An employee's pay before any deductions (such as taxes or insurance) are taken

Financial Assets

what you own

Income Tax

A tax on the net income of an individual or business; typically taken out of a paycheck

Coupon

A voucher entitling the holder to a discount on a product or service purchased.