Financial Literacy

The amount of money that you make is called?

• net income
• gross income
• paycheck
• budget

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

Which of the following factors affects how much money you will accumulate in your savings account?

• 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

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

• True
• False

APR stands for annual percentage rate

• True
• False

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

• True
• False

What is an expense?

• Something you want
• Something you make
• Something that you pay for
• Something that you win

Tags

CCSS.RI.5.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

What is income?

• Something that you buy
• Something that you earn
• Something that you eat
• Something that you build

All of these are standard deductions from you paycheck except

• Federal tax
• State tax
• Sales tax
• Social security

The biggest deduction on a paystub is usually

• Medicare
• Social Security
• Local Tax
• Federal Tax