Budgeting

How do wages and salary differ?

• Wages describe what you earn on an annual basis

• Salary describes what you earn on an annual basis

• Wages mean you have a standard amount in each paycheck

• Salaried employees are likely to be paid for overtime

Which of the following are TRUE about gross income and net income?

• They are the same thing

• Gross income is the total amount earned AFTER deductions

• Gross income is the total amount earned BEFORE deductions

• Net income is the total amount earned BEFORE deductions

Tags

CCSS.6.RP.A.3B

Which of the following may NOT always appear on your paycheck stub?

• Gross Pay

• Net Pay

• Your Role/Title

• Local Tax

It's common to have all of the following expenses BEFORE signing a lease EXCEPT...

• Renter's Insurance

• Application fee

• Application deposit

• Apartment hunting expenses

Tags

CCSS.L.11-12.6

CCSS.L.8.6

CCSS.L.9-10.6

CCSS.W.11-12.2D

CCSS.W.9-10.2D

Which of the following might you pay WHEN you sign your lease?

• Finder's fee

• Application fee

• Security deposit

• Renter's insurance

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

• 7-12%

• 10-15%

• 15-20%

• 25-30%

Tags

CCSS.6.RP.A.3C

Which of the following is a step you can take to mitigate the risk of buying a used car?

• Get a vehicle history report

• Have a mechanic inspect the car after you buy it

• Skip the test drive; you have time after you buy it to drive

• Buy a more expensive vehicle to ensure quality

Which of the following is NOT a cost of owning a car?

• License and Registration fees

• Gasoline

• Utilities

• Insurance

Which of the following reasons would explain why Justin has decided not to own a car?

• He doesn't have access to public transportation

• The walking score in his city is high

• Driving would reduce the time it takes to get to work by 30 minutes

• There are numerous car dealerships in his area

Tags

CCSS.RI.8.1

CCSS.RI.8.8

CCSS.RL.11-12.1

CCSS.RL.8.1

CCSS.RL.9-10.1

About how much of your income should go towards transportation?

• 5-10%

• 15-20%

• 25-30%

• 35-40%

Tags

CCSS.6.RP.A.3C