Budget Vocabulary Review Quiz

The amount of money you receive in your paycheck BEFORE any deductions or taxes are taken out.

• Gross Income

• Pay Period

• Net Income

• F.I.C.A

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

A breakdown of your income and expenses for a set period of time.

• Pay Stub

• Employer

• Budget

• Spending Habits

A saving strategy where you put a fixed amount of money into a savings account immediately after receiving your paycheck, rather than waiting until the end of the month to save what's left.

• Wants

• Deductions

• Checking Account

• Pay Yourself First

Things you would like to have; they are not absolutely necessary, but they would be nice to have.

• Wants

• Needs

• Deductions

• Taxes

Tags

CCSS.L.4.6

CCSS.L.7.6

CCSS.RI.4.4

CCSS.RI.5.4

CCSS.W.4.2D

A document that is given to a worker with each paycheck and that shows the amount of money earned and the amount that was removed for taxes.

• Report Card

• Pay Stub

• Ticket

• Detention Slip

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

The cost required to pay for something.

• Income

• Allowance

• Income Taxes

• Expenses

Tags

CCSS.L.11-12.4C

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.9-10.4C

An amount of money paid regularly to a person.

• Income

• Allowance

• Income Taxes

• Expenses

Tags

CCSS.L.7.6

CCSS.L.8.6

CCSS.L.9-10.6

CCSS.W.11-12.2D

CCSS.W.4.2D

Money Received on a regular basis

• Income

• Allowance

• Income Taxes

• Expenses

Tags

CCSS.7.RP.A.3

A tax on the income of a person or business.

• Income

• Allowance

• Income taxes

• Expenses

Tags

CCSS.RI.11-12.4

CCSS.RI.4.10

CCSS.RI.6.4

CCSS.RI.8.4

CCSS.RI.9-10.4

A budgeting technique where 50% of your paycheck is spent on needs, 30% on wants, and the last 20% on savings.

• Income taxes

• 50/20/30 Rule

• Government Spending

• Pay Stub

Tags

CCSS.6.RP.A.3C