Financial Literacy: 8th Grade

Managing your bills by determining how much money spend and how much money you earn is known as __________.

• Saving
• Budgeting
• Investing
• Spending

On average most people will pay ________ of their toward taxes.

• 11%
• 21%
• 31%
• 41%

Taxes help pay for things such as public education, parks, police, fire, EMS, postal service and libraries. 

• True
• False

If you do not pay your taxes you can go to jail.

• True
• False

Typically your largest expense is ______.

•  Car Payment 
• Insurance 
• Housing (Rent, Mortgage) 
• Electric 

Life Insurance covers: 

• Payment to beneficiaries if an insured person dies
• Provides money to pay for health care
• You are unable to work for six months and need help paying your expenses while you’re out of work
• Payment to insured person if his/her property is damaged or destroyed by an accident

Hours worked, days a week worked, location of where you work are known as your __________.

• Job Outlook 
• Working Conditions 
• Nature of Work 

What your job responsibilities are on a day-to-day basis is known as ______.

• Job Outlook 
• Working Conditions 
• Nature of Work 

Which of these is not an example of a utility expense?

• Cable 
• Water 
• Electric 
• Rent 

Which bank account is normally tied to your day to day spending and anytime you swipe a debit card the money is removed from that account?

• Checking
• Savings