Personal Finance Unit 2

rate of pay for each hour worked

• Hourly wage

• Commission rate
• Daily wage
• Overtime pay

lowest legal wage that can be paid to most workers

• Living wage
• Overtime wage

• Base salary
• Minimum wage

pay received for hours worked in addition to regular hours

• Living wage
• Overtime wage

• Base salary
• Minimum wage

a fixed amount of money paid to an employee for each pay period regardless how many hours worked

• Living wage
• Overtime wage

• Salary

• Minimum wage

an amount paid to an employee based on a percentage of the employee's sales

• Commission
• Salary
• Bonus
• Wage

the extra money you make for providing service for customers

• Tip

• Commission

• Overtime Pay

• Profit

rate of pay for each united produced

• Commission

• Overtime

• Piecework Rate

• Tips

forms of pay other than salary or wages

examples are a stipend for cell phone, mileage or insurance

• Overtime pay

• Benefits

• Commission-based earnings
• Stock options

Money received from sources other than working

• Salary

• Tips

• Unearned Income

• Earned Income

What are examples of unearned income? (3)

• Interest

• Investment Earnings

• Rent

• Tips

• Salary