Term
| What is a tax used to fund hospital insurance provided under the Social Security System. |
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Term
| What is a tax used to provide support to old-age, survivors, and disability insurance. |
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Term
| What is gross income minus deductions? |
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| Any money that is spent or given away is called an |
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Term
| What is a plan for spending and saving money? |
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Term
| What are expences called that change from month to month? |
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| What are fees that support the government called? |
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Term
| Any money that a person recives is called what? |
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Term
| What is sometimes refurred to as "Cash Flow?" |
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Term
| What does P.Y.F. stand for? |
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Term
| What type of tax is collected by the employer and paid to the state revenue department? |
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Term
| Amounts that are subtracted from gross income are called what? |
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Term
| Expences that have a regular set amount each month are called what? |
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Term
| What are the taxes taken from your gross pay and given to the Internal Revenue Service (IRS) called? |
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Term
| What are the two simple parts of a budget? |
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Term
| What are three deductions that must be taken out of gross pay? |
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Definition
| Social Security, Medicare, and Federal |
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Term
| What document allows the employer to withhold federal income taxes from the employees wages |
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Term
| What document itemizes how much money was earned by en employee and how much was withheld and sent to the IRS? |
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Term
| True or False PYF is not like billing yourself. |
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Definition
| False (PYF is billing yourself) |
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Term
| True or false when the cost doesn't outweigh its benefits its a good purchase. |
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Term
| Yes or No Is a Car payment an example of a fixed expence? |
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Definition
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Term
| What is the purpose of a budget? |
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Definition
| To plan out how to spend and save your money over a set period of time. |
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Term
| What is an account that you have at a financial institution that you use for convenience and to minimize the amount of cash you need to carry? |
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Definition
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Term
| What is a Personal budget for managing your money durring a given time period? |
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Term
| Why shouldn't you have your expences greater than your income? |
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Definition
| You will owe money or get into debt |
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Term
| Who should have a budget? |
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