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money management Flashcards | StudBud

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Defenition of Social Security Tax (FICA)...

Definition of Garnishment..

money management

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1
Definition of Garnishment..
getting a bonus check from your employer as a benefit
giving money towards a debt
a portion of a paycheck/money from a bank account is taken to collect debt
2
Defenition of Social Security Tax (FICA)...
a tax payed on every item and service
a type of payroll deduction that goes to medical insurance
a payroll tax paid by employers&employees funding employee social security
a tax payed only by employers
3
Definition of Barter..
using money to pay for services or goods
exchanging goods or services without using money
taking something from someone
giving something away
4
Definition of Inflation...
when the prices of goods and services increase over a long period of time
the value of the dollar bill increasing
an object being filled with air
prices decreasing over a long period of time
5
Definition of Gross Pay
what employees earn after payroll deductions are withheld
what employees earn before payroll deductions are withheld
sum of all deductions
an unclean pay
6
Definition of Net Pay
take-home pay/amount employees earn after payroll deductions are witheld
sum of all deductions
amount employees earn before payroll deductions are withheld