The money or compensation you earn in exchange for your work is called a “wage” Some common ways employers pay wages are hourly, salary and commission or some combination of these ways.

The amount that is still owed on a loan or credit card debt.

The federal minimum wage provisions are contained in the Fair Labor Standards Act (FLSA) for more info visit www.dol.gov/esa

A register that allows you to keep accurate records of your deposits and withdrawals. Use your check and/or savings register to record every deposit and withdrawal you make.

A period of time over which a loan is scheduled to be repaid. For example, a home mortgage may have a 30-year term, meaning it must be repaid within 30 years.

A monthly accounting document sent to you by your bank that lists your account balance at the beginning and end of the month, and all of the checks you wrote that your bank has processed during the mo [..]

Certificate of ownership in a company.

A document that the Department of Education sends to a student’s family after they have evaluated the student’s Free Application for Federal Student Aid (FAFSA).

The maximum dollar amount the lender is willing to make available to the borrower according to the agreement between them. For example, if you have a credit card, the credit agreement will usually spe [..]

Also known as a budget, a method of tracking your monthly income and expenses.