Personal Finance
Terms
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- Social Security
- Payments made by the government to ensure all Australians have a liveable income
- Fee
- Income from providing a professional servive, such as legal advice or public speaking
- Employee
- a person working under the control or direction of another, according to a contact of employment and in return for a wage or salary
- Royalties
- Income from the sale of a piece of work, such as a song, a book or an invention
- commission
- income from acting as an agent, or go-between, between buyers and sellers
- Employer
- A person or organisation who employs workers under a contract of employment.
- Profit
- Income from selling goods or services less then the cost of selling the goods or services; that is, the excess of revenue over expenses of running a business
- Wage
- Income received for work done based on the hours worked each week.
- interest
- Income received from investments
- Rent
- Income received for the use of a property
- Personal Loan
- An amount of money used for a specific consumer purpose, such as travel, house renovations or the purchase of a car or household items
- Salary
- Income recieved each year for a job, usuallly irrespectivive of the number of hours worked
- Shareholder
- A person who own a part, or share, of a company and has certain rights in relation to that company
- Penalty Rates
- A rate of pay that is applied based on when the work is performed rather than how many hours are worked
- Budget
- A statement of your income and expenditure over a period of time
- Overtime
- The amount of time worked in excess of the standard working hours
- disposable income
- a person's income after tax has been deducted (gross income-tax=disposable income)
- income
- money earned from working and the reutrns on investments
- Return
- The profit that an investor makes from an investment
- Flexitime
- A system that provides salaried workers wth flexible working hours
- Dept Consolidation
- Rolling all your debts into one debt
- Dividened
- a payment made to a shareholder of a company as a cash reward for investing in that company through the purchases of its shares