Shared Flashcard Set

Details

Mark's Unit 3 test
Budgeting
20
Other
12th Grade
10/25/2006

Additional Other Flashcards

 


 

Cards

Term
What does PYF stand for?
Definition
Pay Yourself First [image]
Term
Tax used to fund hospital insurance provided under the Social Security System
Definition
Medicare
Term
Any money a person receives
ex. pay check, allowance, gift
Definition
Income
Term
What is another term used for Cash Management?
Definition
Cash Flow [image]
Term
A tax that is collected by a person's employer and is paid to the state revenue department
Definition
State Income Tax[image]
Term
An expense that does not change from month to month
Definition
Fixed Expense[image]
Term
Any amount that is subtracted from a person's gross income
ex Taxes, Expensese
Definition
Deduction
Term
A tax used to provide support to old-age, survivors, and disability insurance
Definition
Social Security
Term
A person's income with all of their deductions taken out
Definition
Net Pay
Term
Fees a person pays to help pay for government programs
Definition
Taxes
Term
Expenses that change from month to month
Definition
Variable Expenses
Term
Taxes paid to the IRS (internal Revenue Services)
Definition
Federal Income Tax
Term
A plan used to help monitor a persons income and expenses
Definition
Budget
Term
Any money that a person spends or gives away
Definition
Expenses
Term
A personal budget for managing money during a given time period
Definition
Spending and Saving Plan
Term
An account you have at a financial institution that you use for convenience and to minimize the amount of cash you need to carry
Definition
Checking Account
Term
What are two example of income?
Definition
Paycheck,
Gift,
Allownce,
Interest on bank account,
Investments,
Lottery
Term
What are two examples of expenses?
Definition
Food,
Clothing,
Taxes,
Car payment,
Gas,
House Payments
Term
A Fee that you may recieve from an Automated Teller Machine if it's not one from your bank
Definition
ATM Fee
Term
A tool some backs use to make sure a person can not take more money out of their account than they actually have
Definition
Overdraft Protection
Supporting users have an ad free experience!