5th Grade 17-18 Personal Finance

A plan for how income will be spent

This happens when the total amount of $ spent or saved equals the total income.

A withdrawal is taking money out of your bank account.  When you put money in, you make a

The money you pay the government when you purchase some items.

The amount of $ you get after deductions (taxes and insurance) are taken out of your paycheck.

The money you pay the government from your earnings every year.

The money in your account now is called your

Li wants to buy 2 pencils. She has $203.75 in her bank account. She should use a credit card.

Marco earns $100 at his job.  His deductions total $25.  What is his net income?

The money you pay to the government for land you own.

A variable expense is an amount you owe that stays the same, month after month.

Income is