Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

PFL Theme 3

Personal Financial Literacy Theme 3

QuestionAnswer
gross pay the total amount of money a worker earns before any deductions are made
FICA Federal Insurance Contributions Act
net pay money that is left after all deductions are taken out of gross pay to spend or save as you wish after you pay your taxes
net worth how wealth is measured
disposable income another name for net pay
budget an itemized summary of income and expenses for a given period
federal income tax this tax helps pay for services provided by the Federal Government, such as defense, human services, and the monitoring and regulation of trade
state income tax this tax helps pay for services provided by state government, such as roads, safety, and health
local income tax this tax helps pay for services provided by the city or other local government, such as schools, police, and fire protection
pay stub this lists your taxable earnings and your net pay
W-2 this form shows the amount of taxes withheld from your paycheck for the year and is used to file your federal and state taxes
fixed expense constant expenses; some examples include car and house payments
variable expense changing expenses; some examples include entertainment and groceries
1040 EZ U.S. Income Tax Return for Single and Joint Filers with No Dependents; An IRS tax form that some individuals can use to file a federal income tax return
Who contributes to the federal Income Tax deduction? employee
401K This is considered a retirement savings plan
marginal tax bracket the range of taxable income that is taxable at a certain rate
progressive tax a tax that takes a larger percentage from the income of high-income earners than it does from low-income individuals
social security tax this FICA tax provides for old age, survivors, and disability
medicare tax this FICA tax provides for hospital insurance for the elderly
W-4 every time an employee begins a new job this form is completed so the employer knows how many allowances the employee is claiming
Popular Finance sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards