Understanding Your Pay Vocab

Front

Pay Stub

Back

A document that outlines an employee's earnings and deductions for a specific pay period.

Front

Gross Income (Pay)

Back

The total amount of money your employer paid you before any taxes or deductions are taken out.

Front

Net Income (Pay)

Back

your take-home pay or paycheck;

the money left after all taxes & deductions have been taken out of the gross pay.

Front

Deductions

Back

Amounts subtracted from gross income, such as taxes, insurance, and retirement contributions.

Front

Checking Account

Back

A bank account that allows easy access to funds through deposits and withdrawals.

Front

Deposit

Back

• * the action of putting money into your bank account

• * describes an amount of money put into your bank account.

Front

Credit

Back

am amount of money put into your bank account

Front

Expense

Back

• * "something" in which you spend money on

• * for example, groceries is an expense

Front

Withdrawal

Back

• * the act of taking money out of your bank account

• * describes an amount of money taken out of your bank account.

Front

Debit

Back

an amount of money taken out of your bank account