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Money Mgmt Vocab

Vocab

TermDefinition
Net Income Amount of a paycheck after taxes have been taken out.
Short Term Financial Goal Goal you want to achieve with your money in 6 months or less.
Income Money you receive from work that you do.
Gross Income Amount of a paycheck before taxes have been taken out.
Long Term Financial Goal Goal you want to achieve with your money in 6 months or more.
Medicare Tax A tax that pays for health insurance for retired people
Social Security Tax A federal tax that provides income to people in retirement or those disabled.
Federal Tax Tax paid to the federal government.
State Tax Tax paid to the state
Created by: Knuddar
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