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 following will be paid for as part of the escrow funds included in a mortgage loan.

Back

Property tax

Front

Needed when seeking to open a bank account.

Back

Government-issued identification

Front

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

Back

Sales tax

Front

The concept of APR.

Back

The credit card interest rate, calculated on a yearly basis

Front

A certificate of deposit (CD) differs from a traditional savings account in what way?

Back

CDs must remain untouched for a fixed period of time.

Front

1.       All of the following are advantages of bundling insurance EXCEPT what?

 - Convenience

-Increases insurance options

-Less complicated

-Potential saving of money

Back

Increases insurance options