Ways to Save Future Smart

When you use your debit card, the money comes directly out of your ________________ account.

• Credit card

• Savings

• Checking

• Retirement

When you pay with a credit card:

• the money comes out of your checking account

• the money comes out of your savings account

• the money is a loan from the credit card company

• the money is a loan from the government

The money you get paid BEFORE taxes is called

• Net income

• Gross income

• Withheld tax

• Grace period

Federal income taxes pay for:

• schools

• police officers

• roads

• national defense

This is the lowest amount you can pay on your credit card to avoid (not have to pay) late fees.

• credit score

• minimum payment

• grace period

• APR

The amount you get paid AFTER taxes is called:

• Net pay

• gross wages

• credit limit

• payday loan

A payday loan is:

• a bad idea because it is against the law.

• a bad idea because it usually has extremely high fees and interest rates.

• a good idea because it helps your credit score.

• a good idea when you don't have enough money.

The most important component of your credit score is:

• the length of your credit history

• the amount owed

• your payment history

• the types of credit

State income taxes pay for:

• national defense

• health care

• scientific programs

• schools

Wages are different from salary because wages:

• are paid for the amount of time you work

• are paid every month the same amount