Personal Finance Budget Vocabulary

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

• weekly

• bi-weekly

• monthly

• annually

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

• taxes

• wage

• deduction

• hourly

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

• salary

• taxes

• net pay

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...

• weekly

• bi-weekly

• monthly

• annually

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

• weekly

• bi-weekly

• monthly

• annual

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

• deduction

• wage

• FICA

• salary

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

• wage

• salary

• net pay

• gross pay

The action of subtracting something

• deficit

• deduction

• taxes

• income

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

• payroll

• gross pay

• net pay

• deductions

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.

• FICA

• taxes

• deficit

• withdrawal