Human Capital (Voc) Refers to the amount of education and skills a person has (what makes you employable) Do you have the human capital to get the job you’d like to have after you graduate? What are you lacking?

Fiscal responsibility (VOC) Are responsibilities related to money such as supporting one’s family, saving for retirement and college, and paying bills

Terms to know: Gross income/gross pay – Amount of earnings before taxes or any deductions Net pay = the amount of your paycheck after taxes and other deductions Payroll taxes - Federal, State, Social Security, Medicare Other payroll deductions - 401K, heath insurance FSA – Flexible Spending Account for out-of-pocket medical expenses Taxable income – Gross earnings minus pre-tax deductions such as health insurance, 401K retirement account (you do pay taxes when you withdraw the money), or a FSA. Taxable income is the amount of income you are taxed. (Ex: federal, state) After tax deductions such as a ROTH401K – you do not pay taxes when you withdraw the money

Terms to know: Disposable income = net pay Discretionary income = net pay (disposable income) minus bills