Budget

Amounts that are taken out of your paycheck.

• Deductions

• Taxes

• Insurance

• Expenses

The amount of money you will spend each month on savings, utilities, rent, and other payments. It allows people to keep track of their spending and not overspend.

• Budget

• Income

• Bills

• Outcome

The amount of money you actually make without deductions.

• Gross Monthly Income

• Net Monthly Income

• Disposable Income

• Income

The amount of money you actually receive after deductions on your paycheck.

• Net Monthly Pay

• Gross Monthly Pay

• Disposable Income

• Income

Sally works 40 hours a week and makes $12.75 an hour. what is her weekly gross pay?

• $2040

• $510

• $400

• $1020

Sally works 40 hours a week and she get paid $12.75 an hour. her employer's FICA tax is a rate of 7.65%. How much was will be deducted from her pay check?

• $25.02

• None

• $39.02

• $40

Fred's gross pay is $745.03. His total deduction is $201.55. What is his net pay(take home)?

Medicare is a fix rate of 1.45%?

• False

• True