Income earned before payroll deductions

Income earned after payroll deductions

Medicare and Social Security

Federal Income tax, State Income Tax, 401 K

expenses that can change month to month

• Entertainment expenses

• Medical Bills

• Credit Card Expenses

Expenses that stay the same month to month

• Automobile Loan

• Student Loan

• Joe DiMaggio Rookie baseball card

• Real Estate

• Checking Account

• Cash

• you owe a friend $20

• Medical Bill

• Credit Card Balance

• Mortgage

• Car Loan

Occurs when liabilities are greater than assets

Total Assets - Total Liabilities

Inflows - Outflows

Monthly Gross Income - Payroll deductions