Personal Finance

Discretionary income is 

• extra money after you pay your bills
• part of your monthly bills
• money you can't spend
• money lost to taxes

A budget helps us balance our money so we don't spend too much, what else did we budget in the workbook?

• our time
• our favorite sport
• science
• food

Everyone pays this type of tax.

• income
• sales
• FICA
• estate

FICA tax on your paycheck is collected for Medicaid and what else?

• income tax
• sales tax
• social security
• health

Career planning is done

• after high school.
• in college.
• throughout a lifetime.
• once in a lifetime.

Who pays taxes?

• most people who have a job
• most people who purchase items
• most people who own property
• all of the above

When it comes to personal savings, what does the acronym PYF stand for?

• prepare your furture
• pay your friends
• pay yourself first
• prepay your finances

This type of investment is essentially an IOU with a set rate of return.  The issuer promises to pay the buyer a certain sum of money at the end of a stated period plus interest payments at specific intervals.  This type of investing doesn't represent ownership in the corporation, government agency, or utility borrowing the money.

• money market account
• stock
• bond
• certificate of deposit

You order your favorite foot long sandwich with chips and a drink using your debit card.  The total comes to $5.68.  Your online statement shows a charge of $40.68.  the extra amount is likely an overdraft fee.

• true 
• false

Which card takes the money out of your account immediately?

• Credit 
• Debit