Savings Unit 2

Which of the following represents the 50/20/30 Rule for budgeting?

Things you would like to have but are not necessary.

If you get money each week from your parents, possibly for doing chores, this is called what?

Rent, electricity, gas, phone, groceries are examples of costs which are called what?

The total amount of money you receive in a paycheck before anything is taken out is called what?

A physical or electronic document that provides details about money earned on a job and deductions made.

Money that is deducted from a person's income or a company's profits for federal or state purposes.

Money that is set aside for future short or long term goals or emergencies is called what?

A debt you owe for goods (ex. food, games or clothes) and services (ex. hair cut).

A plan for spending and saving income during a set period of time.