Income and Expense Statements!

Gross income is

This is an important financial management tool that summarizes your past transactions

strong, usually irresistible impulse to perform an act against a person's  usual behavior

What is savings?

amount of a paycheck one gets to keep after taxes and other deductions are taken out 

The formula for calculating net gain/loss is

An example of earned income is 

You are considered a __________ if you live here and pay taxes to national, state, county 

Income is 

Taxes help pay for your education

Net income is also called

This picture is an example of 

Should Gerald buy a new car based on his income/expense statement?

is a federal government program that helps fund retirement and those with profound disability

What are two ways of tracking income and expenses?

log of withdrawals and deposits for a checking account

One example of unearned income is 

is a federal government program that helps fund retirement and those with profound disability

this tax helps fund programs sponsored by the federal government, like national defense

What might NOT go in the food category of an Income and Expense Statement?

What might NOT go in the Insuarnce category of an Income and Expense Statement

Should David buy a $400 gaming system based on his income/expense statement

a sum of money that a government mandates that its citizens pay to support the government.

A product that transfers risk from an individual to a company or organization is

money put into an account

Examples of income include salary from a job or interest earned on an investment

cash withdrawn by using a debit card and entering a pin number in an ATM machine

Should Susie go on a $700 beach vacation based on her income and expense statement

What are expenses

Net income is