Will fan and medal please! You earn $17.50 an hour and work 40 hours a week. your deductions are FICA 7.65%, federal tax withholdings 12.3%, state tax withholding 6.2%. your housing and fixed expenses are 30% of your realized income per month. you want to save 5 months worth in an emergency fund within a year. how much do you need to save each month to fund the emergency fund, and how much discretionary money remains per month?

Question

anonymous · Answer

uh, what's FICA? I don't really get it

anonymous · Answer

well those are just percentages of deductions that have to be taken out of the paycheck, just examples of what would be on a real paycheck

anonymous · Answer

$700 is made each week but im having trouble taking the deductions out