Financial Literacy

Front

The amount of money that you make is called? Options: net income, gross income, paycheck, budget

Back

gross income

Front

All of these are reasons why people are in debt except: They misuse credit cards, They don't follow a budget, They have checking accounts, They don't invest their money

Back

They have checking accounts

Front

Which factors affect how much money you will accumulate in your savings account? Options: How early you begin saving, The interest rate you get on your investments, How much money you set aside for savings/retirement, All of the above

Back

All of the above

Front

An annual fee is charged by credit card companies when you don't make your payment on time

Back

False

Front

APR stands for annual percentage rate

Back

True

Front

Debit cards charge interest when you don't pay your bills off every month

Back

False

Front

What is an expense?

Back

Something that you pay for

Front

What is income?

Back

Something that you earn

Front

All of these are standard deductions from your paycheck except: Federal tax, State tax, Sales tax, Social security

Back

Sales tax

Front

The biggest deduction on a paystub is usually: Medicare, Social Security, Local Tax, Federal Tax

Back

Federal Tax