Paychecks & Paystubs
This document shows your earnings, deductions, and how much money you actually take home.
What is a PAYSTUB?
This is money you receive, such as money earned from working a job.
What is INCOME?
This means using your money to buy goods or services.
What is SPENDING?
This is a financial institution where you can store, save, and manage your money.
What is a BANK?
This is the money you receive from your employer for work you have completed.
What is a PAYCHECK?
This is the day your employer gives you your paycheck or deposits your money into your account.
What is a PAY DATE?
This person or company hires you and pays you for your work.
What is an EMPLOYER?
These are things you must have to live and stay safe, such as food and housing.
What are NEEDS?
This is the amount of money currently available in your bank account.
What is a BALANCE?
These are amounts taken out of your paycheck for things such as taxes, insurance, or retirement savings.
What are DEDUCTIONS?
This is the amount of time you work before receiving a paycheck, such as one or two weeks.
What is a PAY PERIOD?
This is money earned from working, usually based on an hourly rate.
What is a WAGE?
These are things you would like to have but can live without, such as entertainment or eating out.
What are WANTS?
This is a plan for how you will earn, spend, save, and manage your money.
What is a BUDGET?
This abbreviation means "Year to Date" and shows totals from the beginning of the year until now.
What is YTD?
Your paycheck shows you earned $2,000 before anything was taken out. This is your _____ income.
What is GROSS INCOME?
Unlike an hourly wage, this is usually a set amount of money an employee earns each year.
What is a SALARY?
This is the general term for money you spend on things you need or want.
What are EXPENSES?
Your rent is $1,000 every month. This type of expense usually stays the same.
What is a FIXED EXPENSE?
This form from your employer shows how much you earned and how much was withheld during the year.
What is a W-2?
Your gross income is $2,000, but after deductions, you receive $1,650. The $1,650 is your _____ income.
What is NET INCOME?
You normally work 40 hours a week but work 45 hours this week. The extra 5 hours may qualify as this.
What is OVERTIME?
You have $100 left after paying your bills. You spend $60 on concert tickets and $40 on eating out. This is an example of what?
What is SPENDING?
Your grocery bill is $350 one month and $475 the next month. This type of expense can change from month to month.
What is a VARIABLE EXPENSE?
Your employer offers you health insurance and a retirement plan in addition to your regular pay. These extras are called what?
What are BENEFITS?