Personal Finance Budget Vocabulary

Front

When you are paid every two weeks, you are paid...

Back

bi-weekly

Front

You work at McDonalds. You earn $12.00 per hour. The money you make per hour is your...

Back

wage

Front

You are the manager of a bank. You are paid $65,000 per year. The money you earn is considered your...

Back

salary

Front

On your pay stub, you see it is for the dates of 1/1/24-1/7/24, this would indicate that you are paid...

Back

weekly

Front

Your salary for the year is $65,000. This is considered your ___________ salary.

Back

annual

Front

A US payroll tax deducted from worker’s paychecks that funds the Social Security and Medicare programs

Back

FICA

Front

The amount employees earn after all payroll deductions are subtracted from their gross pay

Back

net pay

Front

The action of subtracting something

Back

deduction

Front

What employees earn before taxes, benefits, and other payroll deductions are withheld

Back

gross pay

Front

Withheld from their paychecks and paid to the government by the employer. These ___ include federal, state, and local income taxes, and the employee's share of Social Security and Medicare taxes.

Back

taxes