Income, Taxes & Budgets Day 4

Earned income/ingresos del trabajo

Any money received from working/Ingresos del trabajo son ingresos que vienen de un trabajo o de auto-empleo.

Unearned income/ingresos no derivados del trabajo

Money received from sources other than working/Dinero recibido de fuentes distintas del trabajo

Salary/salario

Fixed amount of money earned yearly.

Hourly Wage/salario por hora

Money earned for each hour worked./Dinero pagado por cada hora trabajada

Overtime pay/Pago por tiempo extra

1.5 times the hourly wage. Only after 40 hours per week. /Empleados pagados por hora que trabajan más de 40 horas a la semana. 1,5 veces el salario regular

Bonuses/bonificaciones

One time payment as an incentive or reward/Recompensas únicas a los empleados

Commissions

A set fee or percentage paid for selling./Una tarifa o porcentaje establecido de venta pagado a un vendedor.

Tips

Gratuity paid for service/Dinero entregado a una persona por realizar un servicio.

Minimum wage/sueldo mínimo

Is the lowest pay rate allowed by law for each hour worked./Es la tasa de pago más baja permitida por la ley por cada hora trabajada.

Pay Period

A time frame where work is being done, recorded and paid.

Usually 2 weeks long.

year to date (YTD)

beginning of the year to todays date

Gross Income/sueldo bruto

The amount of earnings before payroll deductions/La cantidad de ganancias antes de las deducciones de nómina.

Net Income/salario neto

Your gross income minus payroll deductions./Su ingreso bruto menos las deducciones de nómina.

Deduction/deducción

Money taken out of a paycheck/Dinero sacado de un cheque de pago

Benefits

Compensation or pay other than salary or wages

Variable Expenses

Expenses that vary in amount and type, such as gas and groceries

Recurring Expenses

Expenses that occur throughout the month, but can vary in cost depending on the choices you make.

Fixed Expenses

Expenses that do not change from month to month, such as auto insurance or rent.

Non Recurring Expenses

Expenses that happen one time or a few times a year.

Pay Yourself First (PYF)

The idea that you should save money as soon as you receive any income.