Budgeting

Paycheck

1

100 Who gives you a paycheck?

Your employer

2

100 What are the 2 most popular pay periods for receiving a check?

Weekly & bi weekly

3

200 What are the two types of pay a person can receive from their employer?

Hourly/Salary

4

200 Name the 2 businesses printed on your paycheck?

Your work and the work's bank

5

100 What 2 factors determine how much money you receive for gross pay?

Hours worked & Hourly wage

Paystub

1

100 It you work 20 hours in a week at $15 per hour how much will your gross pay be for that week?

$300

2

100 What is it called if you work more than your regular hours for a week?

Overtime pay

3

200 What does the "current Hours" box on a paystub tell you?

Hours worked during the most recent pay period.

4

100 What is the name for money taken out of your paycheck for taxes, insurance and dental care?

Deductions

5

400 If you have deductions from F.I.C.A. what program are you paying into?

Social Security

Definitions

1

100 A plan for spending money

Budget

2

100 The name for things you buy every month are your monthly, what?

Expenses

3

100 What are you doing when you sign your name on the back of a check?

Endore/Endorsing

4

200 The total amount of money earned on a paycheck after deductions

Net pay

5

200 The total amount of money earned on a pay check?

gross pay

Types of deductions

1

100 What type of deduction covers tooth repair?

Dental

2

100 What type of deductible covers medical expenses? 

Health insurance

3

100 What type of tax will not show up on a New Hampshire payroll check?

State tax

4

100 What deductible covers your retirement plan?

Social Security/401K

5

300 Who deducts the most tax from your pay check?

Federal Government

Randoms

1

100 It you work overtime, how much will you be paid for an hour's work if you make $10 an hour

$15 an hour

2

100 These are things you have to have like food water and basic clothing

Needs

3

100 These are things you do not need to survive but would like to have anyway

Wants

4

100 What type of pay do you receive in retirement?

Social Security/401 K

5

100 What is it called when a company comes to take your car because you didn't make the payments on it?

Repossession