Future Smart 3: Ways to Pay

Front

Income earned on an hourly basis is called a

Back

wage

Front

Which factor has the biggest impact on a credit score? Options: payment history, type of credit, amount owed, length of credit

Back

payment history

Front

Ashley wants to use money from her checking account to make a purchase. Which payment method should she use? Options: credit card, debit card, direct deposit, prepaid card

Back

debit card

Front

What is the best strategy for avoiding credit card interest? Options: pay the full balance each month, skip payments, pay the minimum balance, make payments online

Back

pay the full balance each month

Front

______ is withheld from a paycheck and is used to fund government services such as health care, national defense, and scientific programs.

Back

Federal income tax

Front

Which of the following is not an income? your annual salary, your monthly student loan payment, your stipend received as part of an internship, your wages earned during a work shift

Back

your monthly student loan payment

Front

Which term describes Amy's new summer job at the pool that will pay her $9 per hour?

Back

wage

Front

A _____ is usually paid on a biweekly or monthly basis for professional employment.

Back

salary

Front

What is state income tax?

Back

the tax paid to the state government where you live or work based on your income

Front

Which of the following statements is true? 1. applying for several lines of credit in a short period of time can help boost a person's credit score 2. none of these statements are true 3. the longer you use credit responsibly, the higher your credit score 4. low risk borrowers tend to have low credit scores

Back

the longer you use credit responsibly, the higher your credit score