Budgeting Basics Review 2024 Motz

Front

How do wages and salary differ?

Back

Salary describes what you earn on an annual basis

Front

TRUE statements about gross income and net income.

Back

Gross income is the total amount earned BEFORE deductions.

Front

Which of the following may NOT always appear on your paycheck stub? Gross Pay, Net Pay, Your Role/Title, Local Tax

Back

Your Role/Title

Front

Expenses BEFORE signing a lease EXCEPT: Renter's Insurance, Application fee, Application deposit, Apartment hunting expenses

Back

Renter's Insurance

Front

What might you pay when you sign your lease?

Back

Security deposit

Front

According to a rule of thumb, rent shouldn't take up more than ___ % of your take-home pay.

Back

25-30%

Front

What is a step to mitigate the risk of buying a used car?

Back

Get a vehicle history report

Front

Which of the following is NOT a cost of owning a car? License and Registration fees, Gasoline, Utilities, Insurance

Back

Utilities

Front

Why has Justin decided not to own a car?

Back

The walking score in his city is high

Front

About how much of your income should go towards transportation?

Back

15-20%