A plan for managing your money during a given period of time. AKA budget
The money you have coming in and going out.
Any money you receive.
Federal Income Tax
A fee collected by the federal government to support its programs.
State Income Tax
Collected by every employer on behalf of its employees, and then sent to the state revenue department.
Social Security Tax
Provides a small income and other services to the elderly, disabled, and orphaned minors.
Total amount of income from your wages or before any payroll deductions.
"take home pay" -The amount you will be able to deposite.
What you spend money on
Cost the same amount every time.
Fluctuate in amount -usually have more control over how much they will be.
Periodic or Occasional Expenses
Ones you don't pay every month.
Pay yourself first. -Set aside a certain amount of money each time.
Provides medical insurance to the elderly, and some disabled Americans.
t(FICA) Tax levied on employers and employees to support Social Security and Medicare