Name:_________________________________________________ Period:_____________ budget electric bill.

First Semester Junior/Senior English Vocabulary
1. BUDGET: n.___________________________________________________________
 My budget for the month of August was just enough to cover rent on my apartment and to pay the
electric bill.
 I did not have enough money in the budget to cover the expense of taking a vacation to the Wisconsin
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2. EXPENSE: n. _____________________________________
 To help pay expenses for college, my son took on a part time job at the college.
 When I plan my budget, I have to make sure to include all expenses including utilities.
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3. INCOME: n. _____________________________________________________
 My income from my job as a desk clerk at the doctor’s office will help me pay for college classes.
 My mother went back to work so the family would have an additional income to pay for her new car.
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4. TAX: n. ________________________________________________________________________
 The current tax increase on cigarettes will go to pay for repairing schools that are not handicap
 During presidential campaign, the candidates always promise that the taxes will not increase in the
coming years.
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5. FEDERAL: adj. ________________________________________________________________
The federal government is a result of the democracy that was founded by the U.S. Constitution
Anyone with an employment record is required to file a federal income tax return in order to be
reimbursed for overpayment of taxes.
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6. FEDERAL TAX: n. ______________________________________________________
 Federal tax money is used to pay for our armed forces to protect our country.
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7. STATE TAX: _n._____________________________________________________
 State tax money is used to pay for public education.
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8. FINANCES: n. v. ____________________________________________________
 My father handles the finances of his company by paying employee benefits.
 Our finances are tight because my mother lost her job last month.
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9. REVENUE: n. _______________________________________________
 The federal and state government main source of revenue is provided by income taxes.
 Many schools have fund raisers to provide addition revenue to support extracurricular activities.
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10. CALCULATE: v. _____________________________________________
 That remark was calculated to hurt her feelings.
 You can calculate on earning $65 a week if you take the job delivering newspapers.
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11. MORTGAGE: n. v. ________________________________________________________________
I needed a mortgage in order to buy my new corvette from the dealership.
When considering buying a home, you will need to be sure to apply for a mortgage first and so that you
are pre-approved for one.
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12. LEND: v. _______________________________________________________________________
 The bank will lend me the money for buying the car, however I will need to pay the money back and
add interest.
 I am unable to lend you money for lunch because I am living on a tight budget.
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13. LENDER: n. v.: __________________________________________________________________
 The Dupage Credit Union will be the lender when I buy the used car to drive to school.
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14. FUNDS: n. _____________________________________________________________
 Schools often lack sufficient funds to provide an increase in teacher’s salaries.
 In order to provide additional funds to pay for my homecoming dress, I will be babysitting my neigbor’s
children on Saturday mornings.
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15. LEASE: n. v.: _____________________________________________________________________
 The lease for my apartment will be in effect for one year.
 It is important to carefully read the leasing agreement to be sure there are no hidden costs.
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16. COMPENSATION: v. _______________________________________________________________
 After the attack on the World Trade Center, families of the victims received compensation for the loss
of life caused by the attacks.
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17. RENT: n. __________________________________________________________________________
 The monthly rent at the apartments in Wheaton is more expensive than the ones in Glen Ellyn.
 My parents rent a storage unit in Wheaton to store our furniture until we move into our new home.
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18. FIXED INCOME: n. ____________________________________________________________
 My grandparents are on a fixed income, so my grandfather works part time at Wal-Mart to provide
additional funds to pay for entertainment expenses.
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19. CREDIT: n. _______________________________________________________
 My brother bought the car using his credit card: his monthly payments are $400 a month.
 If a person pays his bills on time, his credit rating will be excellent.
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20. CONSUMER: n. ______________________________________________________
 Even as consumer spending increases modestly, fewer goods and services are being purchased.
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21. DEBT: n. ___________________________________________________________
 It is important to pay off debt in order to establish a solid credit rating.
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22. UTILITY: n. _______________________________________________________
 The rent on my apartment are modest, however the monthly utility bill is twice as much as the rent.
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