Personal Financial Literacy

Which of the following is an advantage of using a credit card?

• Interest is charged for the use of a credit card.

• Consumers can purchase things now, and pay for them later in the event of an emergency.

• You could be a victim of identity theft.

Alyssa has her first job at the local bakery. After working for one week, she received her first paycheck. The total amount of money she is able to put in the bank is $75.62. What type of income does this amount describe?

• Gross Income
• Net Income
• Both Gross and Net Income
• None of the above

Jonathan's new clothes cost a total of $572.50 before tax. What type of tax does Jonathan have to pay for his new clothes?

• Income Tax
• Property Tax
• Payroll Tax
• Sales Tax

If Sammy’s expenses are greater than his income, what must he do to balance his budget?

• Earn more money
• Spend less money on expenses
• Earn more money AND spend less
• None of the above

Which of the following is considered an advantage to using a debit card to make purchases?

• Debit cards are convenient and easy to carry around.
• Purchases can be made quickly and easily.
• You can use many ATMs to get cash.
• All of the above.

What is the current amount of money in your bank account called?

• balance
• debt
• withdrawl
• payment

What is it called when you put money into an account?

• Deposit
• Withdrawal
• Balance
• Grant

What does WITHDRAWAL mean?

• put money into an account
• money taken out of an account?
• a way to pay for college
• a Bank Account. 

A tax based on an employee's wages. It is paid by the employee.

• Payroll Tax

• Income Tax

• Property Tax

• Sales Tax

A tax based on purchased goods and services.

• Payroll Tax

• Income Tax

• Property Tax

• Sales Tax

Tags

CCSS.7.EE.B.3