| A | B |
|---|
| Budget | plan for managing money |
| Income | any money you receive |
| cash flow | money coming in and going out |
| Taxes | Fees that support government programs |
| Mortgage | payment for a home |
| State Tax | Supports state programs |
| Social Security | small income to elderly or disabled |
| Medicare | medical insurance for elderly or disabled |
| Gross income | total amount of income before deductions |
| Net income | take home pay |
| W-4 | form for work that sets your tax deductions |
| Fixed Expenses | Costs the same every time |
| Variable Expenses | Costs that can fluctuate in amount |
| P.Y.F. | Payment or savings you pay to yourself |
| W-2 | Form you receive at end of year summarizes payment for year |
