Shroutrageous Income and Saving

Front

The total amount of earnings made over a month, after any deductions, is known as

Back

Net monthly income

Front

The total amount of earnings made over a month, before any deductions, is known as

Back

Gross monthly income

Front

True or false: One of the most important reasons to save is to be able to pay for unexpected expenses.

Back

True

Front

Marina has a job working at Moe's. She is paid $7.00 an hour. What is NOT true about her paycheck? Options: She will have deductions taken from for taxes, It is income, because it's money earned for labor., It is wages, because it's paid hourly., It earns her a credit card because she now has credit.

Back

It earns her a credit card because she now has credit.

Front

What is the term for the amount of money left after all deductions are made from a paycheck?

Back

Net pay

Front

Which of the following is NOT considered a deduction from your paycheck? Overtime pay, Retirement contributions, Health insurance premiums, Federal taxes

Back

Overtime pay

Front

True or false: Saving money can help you achieve long-term financial goals.

Back

True

Front

What is the term for the amount of money earned before any taxes or deductions are taken out?

Back

Gross pay

Front

True or false: Gross income is the same as net income.

Back

False

Front

True or false: When Jackson paid Sebastian an extra 25 cents for the dollar he borrowed from him, he was paying him interest.

Back

True