What types of benefits are included in the Social Security program?

Time between birth and death:

Amount spent for an item that a person could do without:

Plan for the use of money over time based on goals, expenses, and expected income:

Money added to an employee's base pay:

Things that a person desires but can live without:

The choice to give up something when making one choice over another.

In years when the government spends more than it collects, it must borrow money. This is

called ____________________, and it increases the national debt.

Individuals must file a tax return when their income reaches a level established by the IRS.

Gross pay (plus bonuses) minus payroll deductions: also known as take-home pay:

Employee's Withholding Allowance Certificate that helps an employer determine how much

income tax to withhold from an employee's paychecks as payroll deductions:

Individual who purchases goods and services for his or her own use:

Cost that changes both in the amount and time it must be paid:

Organization that aides those in need:

When establishing a budget, what types of expenses should be tracked?

Personal financial strategy that can help a person save money by paying himself or herself

first and putting money aside for saving:

Taxes paid by the employee and employer that are used to finance the federal Social Security

and Medicare programs: also known as Social Security and Medicare taxes:

Fixed payment for work expressed as an annual figure:

The Fair Labor Standards Act sets and enforces the:

Amount that a taxpayer can claim for each person who is dependent on that person’s income:

What is the primary purpose of taxes? Pay for:

Moral principles or beliefs that direct a person's behavior:

Amount of money that can easily be accessed in case of a job layoff, illness, or unexpected

expense:

Necessities a person must have to survive:

Abundance of money and other assets:

What are some of the unplanned ways people make decisions?

Wage and Tax Statement that shows your earnings and the amounts of income, Social

Security, and Medicare taxes withheld from your earned income during the year.

Income earned while working for yourself is known as:

The method of weighing the costs against the benefits of an action, a purchase, or a financial

decision.