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UNIT 3 FLASH CARDS
BUDGETING
16
Other
12th Grade
10/24/2006

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Cards

Term
Tax used to fund hospital insurance provided under the social security system
Definition
medicare
Term
a tax used to provide support to old-age, survivors and disability insurance
Definition
social security
Term
gross income minus deductions
Definition
net
Term
any money spent or given away
Definition
expenses
Term
a plan for spending and saving money
Definition
budget
Term
expenses that change from month to month
Definition
variable
Term
fees used to support the govn programs
Definition
taxes
Term
any money a person recieves
Definition
income
Term
sometimes referred to as "cash flow"
Definition
cash management
Term
pay youself first
Definition
PYF
Term
a tax collected by the employer and paid to the state revenue department
Definition
state
Term
amounts subtracted from gross income
Definition
deductions
Term
the amount of income efore deductions
Definition
gross
Term
expeneses the have a set dollar amount month
Definition
fixed
Term
taxes paid to the internal revenue services[IRS]
Definition
federal
Term
taxes paid to the internal revenue services[IRS]
Definition
federal
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