Financial Literacy Review

Front

A type of account used for everyday spending and uses checks / debit cards

Back

Checking Accounts

Front

A type of account used to store money for longer term goals and earns interest over time

Back

Savings Account

Front

How does the government pay for roads, schools, and emergency services?

Back

They are funded through taxes.

Front

The amount of money you're paid, after all taxes and deductions are taken out of your paycheck, is called ___________.

Back

Net Pay

Front

What does the W-2 form tell you?

Back

How much you've earned and how much taxes you've paid in the last year.

Front

Healthcare, paid time off, disability insurance, and matching contributions to a retirement account are all types of ________ available from your employer.

Back

Benefits

Front

Which of the following is a benefit of using a budget?
Options:
Helps to keep track of the money you receive.
Helps to prioritize your spending.
Helps reach short- and long-term financial goals.
All of these.

Back

All of these.

Front

Which of the following should you consider when setting a budget?
Your financial goals.
Needs and wants.
Savings.

Back

All of these.

Front

This helps you prepare for unexpected expenses.

Back

Emergency Fund

Front

Making a good purchasing decision requires _____________.

Back

Comparing the prices of similar items, Reading reviews of the product, Waiting until the product is on sale, if possible.