FINANCIAL LITERACY

What is the best form of payment to use when shopping online or making an emergency purchase?

• debit card

• cash

• credit card

• check

What is the best form of payment to use when going grocery shopping or making a regular every day purchase?

• cash

• debit card

• credit card

• check

When paying your rent, paying a bill, or sending money in the mail, what is the best form of payment to use?

• check

• debit card

• credit card

• cash

When making a quick stop to the dollar store or corner store to make a small purchase (gum, candy, chips), which form of payment is best to use?

• credit card

• debit card

• check

• cash

John and Maria live in a big city. They pay tax to the city based on how much they earn. _

• sales tax

• property tax

• payroll tax

• income tax

Marcia bought a new coat and hat. She paid $102.96 for the items and $8.49 tax.

• sales tax

• property tax

• payroll tax

• income tax

Kati received her paycheck. Her pay stub showed a total of $67.45 in taxes.

• sales tax

• property tax

• payroll tax

• income tax

The Petersens received a notice that their tax would increase because of the new garage they put on their house.

• sales tax

• property tax

• payroll tax

• income tax

Money that you plan to spend is called ________

• income

• expense

• budget

• balance

Money that you earn from a job or tasks is called

• income

• expense

• balance

• budget