Consumer Math S1 Final

Front

Can you help them figure out the difference between 'needs' and 'wants'?

Back

Needs are goods or services that people cannot survive without, while wants are for comfort or contentment but not essential for survival.

Front

What does gross pay mean in a job?

Back

The total amount you earn before any deductions.

Front

What are the mysterious deductions on Olivia's paycheck?

Back

Amounts subtracted from your gross pay, including taxes and benefits.

Front

Imagine you're on a financial adventure with Sophia, Olivia, and Lily. What's the smartest way to keep your treasure chest full and avoid the dreaded debt trap? Options: Take out a small loan for any purchases over $1,000, Only buy things that you can purchase with cash, Use credit to pay for large expenses now so that you have plenty of time to pay it off., Use airline miles earned through a credit card to help pay for a vacation.

Back

Only buy things that you can purchase with cash

Tags

MA.912.FL.3.11

Front

Did you know that 45% of Americans, like Anika and Michael, have less than $1,000 saved for a(n) _____________? Can you guess what it is?

Back

Emergency

Tags

MA.912.FL.3.11

Front

What is the modern-day wizardry called when an employer sends salary straight to an employee's bank account without any action required from the employee?

Back

Direct Deposit

Front

Why do stores, like the one Mason and Abigail visited, rarely shout out the full price of big-ticket items like smartphones?

Back

By showing you only the monthly payment, they make the product seem affordable.

Tags

MA.912.FL.3.5

Front

Something that credit card commercials don't show you is ____________.

Back

People like Lily, Mia, and Emma making payments for months or years on those credit card purchases.

Tags

MA.912.FL.3.5

Front

Which of the following clues is part of the formula that determines a person's FICO score?
The dollar amount in their savings funds,
The percent of income that they invest into mutual funds,
Their income level during a one year period,
Their history of payments made to lenders

Back

Their history of payments made to lenders

Tags

MA.912.FL.3.10

Front

Imagine you're Noah, and you've just finished a year of hard work. Which magical document will you receive to summarize your earned income?

Back

W-2