Income
Generally, the more of this a person has, the higher their lifetime earnings will be.
Education
The amount of monthly or annual pay that you earn for working is called
Salary
This form—which you fill out when you start working for an employer—asks for your name, address, Social Security number, marital status, and the number of exemptions you claim for income tax purposes.
Form W-4
This serves the American people by manufacturing and distributing circulating, precious metal and collectible coins and national medals, and providing security over assets entrusted to us.
U.S. Mint
Exchanging goods without involving money.
Bartering
Income the comes from Investments and other sources which are unrelated to employment
Unearned Income
The total amount of money earned BEFORE taxes and payroll deductions are taken out of an employee's paycheck.
Gross Pay
Taxes that are assessed on moveable items such as automobiles, motorcycles, trucks, boats, campers, mobile homes, trailers, and aircraft
Personal Property Tax
Manages Federal finances by collecting taxes and paying bills and by managing currency, government accounts and public debt. They also enforce finance and tax laws.
The U.S. Department of Treasury
A general increase in prices.
Inflation
Healthcare, paid time off, disability insurance, and matching contributions to a retirement account are all types of _________ available from your employer.
Benefits
The total amount of money earned AFTER taxes and payroll deductions are taken out of an employee's paycheck.
Net Pay
Tax on earned income that supports the Social Security and Medicare programs.
FICA
The background color of all US paper money.
Green
The Federal Reserve uses to regulate the nation's money supply
Monetary Policy
Byron is a wealthy tycoon who makes his money from buying and selling stocks. This is an example of ___________ income.
Capital Gains
Sums of money subtracted from your gross income for taxes and benefits.
Payroll Deductions
Tax form employers are required to send their employees each year reporting income earned and taxes paid throughout the previous calendar year.
Form W-2
Federal entity that regulates monetary policies including loan interest rates.
The FED or The Federal Reserve
A legal process that allows part of your paycheck to be withheld for payment of a debt.
Garnisment
For hourly workers, you must be paid this for hours worked over 40
Overtime Pay
Your wages are deposited directly into your depository institution.
Direct Deposit
Tax form used to calculate and file your federal income taxes.
Form 1040
A United States government corporation providing deposit insurance to depositors in U.S. commercial banks and savings institutions.
FDIC (Federal Deposit Insurance Corporation)
The knowledge and skill base necessary for people to be informed consumers and manage their finances effectively
Financial Literacy