Financial Literacy Flashcards

Front

The total money one gets to "take home" from a paycheck after taxes and deductions.

Back

Net pay

Front

The form employers use to determine how much tax to deduct from a paycheck.

Back

W-4

Front

The form an employer provides to an employee to inform them of how much money was deducted from paychecks in a given year.

Back

W-2

Front

The statement that best describes gross pay.

Back

Amount of money one receives from their job before taxes or other deductions are taken out

Front

The cost paid as part of the escrow funds included in a mortgage loan.

Back

Property tax

Front

The item needed when seeking to open a bank account.

Back

Government-issued identification

Front

The additional cost that must be paid in addition to the listed price of a product at a store.

Back

Sales tax

Front

APR is best described as

Back

The credit card interest rate, calculated on a yearly basis

Front

A certificate of deposit (CD) differs from a traditional savings account because

Back

CDs must remain untouched for a fixed period of time

Front

An example of an advantage of bundling insurance is NOT

Back

Increases insurance options