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Personal Finance
34 cards·by JZ_R5
Income
earnings of an individual
Commission
percentage of a sales price received by a sales person
Dividend
return on a share
Fee
money received for services completed
Overtime
work completed outside regular hours
Rent
payment for use of another person's building or land
Wage
amount paid to an employee on an hourly rate
Salary
amount paid to an employee on an annual rate
Social welfare payment
amount paid by the government to someone in need
Superannuation
saving for retirement
Saving
income not spent
Fixed expenses
spending that occurs on a regular basis
Variable expenses
spending that occurs on an irregular basis
Impulse buying
buying something without thinking about the need for it
Net income
income after tax has been deducted
Interest
cost of borrowing/ return on a deposit
Cash purchase
buy now pay now
Guarantor
someone who guarantees to pay a loan if he borrower does not
Secured loan
something deposited as a guarantee to fulfil the payment of a loan
Unsecured loan
nothing is deposited as a guarantee to fulfil the payment of a loan
Budget
a plan of income and expenditure
budget surplus
planned income is greater than planned expenses
budget deficit
planned income is less than planned expenses
investment
putting money into something to make a return
equities
shares/stocks held by an individual
portfolio
the range of shares/stocks held
term deposit
money saved for a set interest rate over a set period
bonds
an I.O.U issued by government for a fixed interest rate
share
a unit of ownership in a company
managed fund
an investment pooled with others to earn a return
kiwiSaver
a government programme to encourage savings by New Zealanders
Commodity trading
Natural resources that are bought and sold to earn a return
Foreign exchange trading
buying and selling currencies to earn a return
credit purchase
buy now pay later