Budget Vocab

Money that is earned from work

• budget

• income

• expenses

• bills

Bills or payments you are responsible for paying

• expenses

• wages

• income

• salary

A plan for how you will use your income to pay expenses

• budget

• needs

• income

• wants

Choose all that could be deductions from a paycheck?

• monthly rent or mortgage payment

• federal tax

• social security

• state tax

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

• deduction

• wage

• FICA

• salary