Budget & Pay Check Review

What is the budgeting rule you learned yesterday?

• Needs - 50%

  Wants - 30% Savings - 20%

• Needs - 30%

  Wants - 50% Savings - 20%

• Needs - 60%

  Wants - 20% Savings - 20%

What is income?

What is Gross Pay?

• The total you make before taxes and deductions

• Take home pay

• Really gross money

Name some of the deductions that are withheld (taken out) of a pay check

Net Pay is

• The amount of money you make before taxes and deductions

• The amount of money you take home after all deductions are applies

• Money I can catch with a net

Pay period is the...

• Period of time where I get paid.

• Start and end date of the time a paycheck covers.

• The actual day that payment is issued to you.

Pay Date is ...

• the start and end date of the time the paycheck covers.

• A movie about money

• the actual day a payment is issued to you.

Should you use gross pay or net pay when creating a budget? Why?