---
title: "SSEPF2: Income Budgeting Basics (Georgia Social Studies standard)"
code: SSEPF2
cite_as: Georgia Standards of Excellence, Social Studies, SSEPF2
subject: social_studies
grades:
  - high-school
language: en
canonical_url: https://georgiahomeroom.org/standards/code/SSEPF2
md_url: https://georgiahomeroom.org/standards/code/SSEPF2.md
alternate_language_url: https://georgiahomeroom.org/es/standards/code/SSEPF2.md
source_url: https://case.georgiastandards.org/ims/case/v1p1/CFDocuments/a446e74c-463e-11e7-94f5-b49cee8b2d8c
source_last_changed: 2025-02-04
data_built: 2026-09-18
publisher: Georgia Homeroom, a free public-interest project of Georgia Civic Data. Not affiliated with or endorsed by the Georgia Department of Education or any school district.
up: https://georgiahomeroom.org/standards/social_studies/high-school.md
index: https://georgiahomeroom.org/standards/index.md
---

# SSEPF2: Income Budgeting Basics

Analyze income as a scarce resource that can be allocated effectively through budgeting.

- Subject: Social Studies
- Appears in: High School, https://georgiahomeroom.org/standards/social_studies/high-school.md

## Expectations

- **SSEPF2a**: Compare different types of income including hourly wages, salary, tips, independent contractor services (Form 1099), dividends, and capital gains.
- **SSEPF2b**: Review and complete a sample federal individual income tax form 1040.
- **SSEPF2c**: Describe the basic components of a paystub including gross pay, net pay, and common deductions (i.e. federal and state income tax, Federal Insurance Contributions Act (FICA which includes Social Security and Medicare), and elective deductions like 401K, insurance and tax-deferred savings).
- **SSEPF2d**: Analyze the basic components of a personal budget including income, expenses (fixed and variable), and the importance of short-term and long-term savings.
- **SSEPF2e**: Explain how to reconcile a checking account, either online or on paper, including how to account for transactions that have not been posted (i.e. checks, weekend debit card transactions, or monthly auto-pay transactions) and how this helps avoid overdraft fees.
- **SSEPF2f**: Describe how to determine a person’s net worth.

## Georgia Milestones coverage

No Georgia Milestones blueprint cites this standard.

Source: Georgia Standards of Excellence, published by the Georgia Department of Education at case.georgiastandards.org.