Managing Your Money Vocabulary

Amount of your paycheck before any money is taken out

• gross pay

• net pay

Items taken out of gross pay, such as federal taxes

• Net pay

• Deduction

How much you are paid for your services

• Wage

• Budget

Your take home pay

• Savings

• Net pay

The total amount of money your family will take home for one month

• Credit Card

• Total Net Income

A plan to help you know your income and expenses

• Budget

• Savings

The money you put back from your paycheck each month for emergencies

• Anticipated Expenses

• Savings

The total amount of money you believe will be paid out for one month

• Total Net

• Anticipated Expenses

The money you make during a pay period

• Paycheck

• Bank

A place where money is kept safe

• Budget

• Bank