Preparation for working life keywords

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Adoption
When a child goes to live with a family on a permanent basis and is considered to be a child of that family by law. The adopted child is entitled to all privileges belonging to a natural child of the adoptive parents (including the right to inherit).
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Alimony
Money that a court orders a man or woman to pay each other after they are separated or divorced.
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Bonus
Extra money for good performance, high productivity, etc.
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Bullying
To hurt or frighten someone who is smaller or less powerful than you, often forcing them to do something they do not want to do.
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Civil wedding
A civil marriage is a wedding that takes place without any religious affiliation and meets the legal requirements of the locale.
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Commission
A (system of) payment to someone who sells goods which is directly related to the amount of goods sold.
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Culture
The way of life, especially the general customs and beliefs, of a particular group of people at a particular time.
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Credit cards
A small plastic card which can be used as a method of payment, the money being taken from you at a later time - often you have to pay extra interest payments if you do not pay money back by a certain date.
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Debit cards
A small plastic card which can be used as a method of payment, money being taken from your bank account automatically.
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Deductions
*Voluntary - Income Tax/NI *Compulsory deductions - superannuation/pension/charity/alimony
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Direct debit
An arrangement for making payments, usually to an organization, in which your bank moves money from your account into the organization's account at regular times.
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Discrimination
When someone is not treated as fairly as someone else in a similar situation, or treated differently because they are different in some way.
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Divorce
The legal ending of a marriage.
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Employees
Workers for a company
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Employers
A person or firm that employs workers
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Essential spending
Spending money on things you need to survive e.g. food, clothes, heating etc.
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Ethnic
Of a national or racial group of people.
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Fees
An amount of money paid for a particular piece of work or for a particular right or service.
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Financial guidance
Help from a professional on how to manage your money.
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Fostering
When a child goes to live with a family on a temporary basis.
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Gross pay
Gross wages is the amount of pay before any deductions are made.
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Health & Safety at Work Act
A legal act designed to protect all people in the workplace.
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Hire purchase
A method of paying for something in which the buyer pays part of the cost immediately and then makes small regular payments until the debt is completely paid.
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Human Resource (Personnel) Department
Keep staff records/organise training/appraisal schemes/deal with staff issues etc.
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Income tax
A government tax charged on what you earn form work or business each year. The amount of income tax you pay is dependent on how much you earn and certain other entitlements and exemptions.
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Investments
To put money, effort, time etc. into something to make a profit or get an advantage.
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Net pay
Net wages the amount after deductions have been made.
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National insurance
A system of taxation in the UK in which the government collects money from companies and workers and makes payments to people who are too old or ill to work or have no job.
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Non-essential spending
Spending money on things you do not need e.g. ipods, meals out in a restaurant etc.
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Pathogenic microorganisms (germs)
Microorganisms such as bacteria that cause disease such as food poisoning.
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PAYE
Pay as you earn - When income tax is deducted automatically from salary.
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Pensions
A sum of money paid regularly by the government or a private company to a person who does not work any more because they are too old or they have become ill.
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Personnel
The total staff who work for a company or organisation.
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Predjudice
An unfair and unreasonable opinion or feeling, especially when formed without enough thought or knowledge.
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Piecework
When workers are paid by the piece they make or complete, such as in sewing or manufacturing.
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P45
You get a P45 from your employer when you stop working for them. It's a record of your pay and the tax that's been deducted from it so far in the tax year.
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What are included on a P45?
Your tax code and PAYE reference number, your NI number, your leaving date, your earnings in the tax year and how much tax was deducted from your earnings.
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P60
Your P60 is the summary of your pay and the tax that's been deducted from it in the tax year.
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Racism
The belief that people's qualities are influenced by their race and that the members of other races are not as good as the members of your own, or the resulting unfair treatment of members of other races.
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Rebate
An amount of money that is repaid at a later date.
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Redundancy
When employees are laid off on a permanent basis because their work is no longer required by the company due to economic, technological or other reasons.
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Redundancy payment
Payments that people made redudant are entitled to if they meet certain conditions.
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Reference
Usually written/verbal report by a past employer, or from a school or college, or responsible impartial adult, of the abilities of a job applicant to do the job for which they are applying, or a statement on how they did their previous job.
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Religous wedding
A marriage which involves a religious ceremony as well as the legal one.
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Salaries
Financial compensation an employee recieves for performing the job, and part of your compensation package. Can be determined hourly, daily etc. Also can include overtime pay, bonuses, and commissions.
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Superannuation
The money put aside during your working life for use when you retire. An employer must contribute 9% of their employee's wages into a superannuation fund. Superannuation is an additional benefit on top of a wage or salary.
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Tax codes
A code given to you that determines the % of income tax you pay.
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Tax codes
A code given to you that determines the % of income tax you pay.
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Trade Unions
An organization of workers who have banded together to achieve common goals in key areas such as wages, hours, and working conditions. The trade union bargains with the employer on behalf of union members and negotiates with employers.
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Trade Union representative
An employee whose role it is to act as a link between employees, employers and the Union.
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Union Subscriptions
A regular amount you pay to belong to a Trade Union.
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Voluntary and compulsory deductions
Amounts taken by your employer from your gross wages. Some like tax are legal. You can agree to others such as pension contributions or union dues. There are rules for some other deductions such as breakages.
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Wages
Gross wages is the amount of pay before any deductions are made and net wages the amount after deductions have been made.
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Other cards in this set

Card 2

Front

Money that a court orders a man or woman to pay each other after they are separated or divorced.

Back

Alimony

Card 3

Front

Extra money for good performance, high productivity, etc.

Back

Preview of the back of card 3

Card 4

Front

To hurt or frighten someone who is smaller or less powerful than you, often forcing them to do something they do not want to do.

Back

Preview of the back of card 4

Card 5

Front

A civil marriage is a wedding that takes place without any religious affiliation and meets the legal requirements of the locale.

Back

Preview of the back of card 5
View more cards

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