6th Grade Financial Literacy

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

• You could be a victim of identity theft.

• 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.

• It's free money

Gross income is larger than the net income

• True

• False

Tags

CCSS.6.NS.C.7C

Which type of tax is added when an individual purchases and item?

• Property Tax

• Sales Tax

• Payroll Tax

• State Tax

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

Tags

CCSS.6.RP.A.3D

Money that you make is called...

• Income

• Earning

• Loan

• Expense

a (a)   is the total amount of money in a bank account at any given time

Tags

CCSS.RF.3.3B

CCSS.RF.3.3C

CCSS.RF.3.3D

CCSS.RF.4.3A

CCSS.RF.5.3A

Expense

• money placed into a checking or savings account in a bank

• an amount of money used to buy goods or services

• the amount of money received in a particular time (weekly, monthly, yearly) in exchange for work

• a bank account that allows a customer to deposit and withdraw money and earn interest from the bank

Withdrawal

• money that is borrowed by a person to purchase goods or services; the borrower agrees to repay the money over a set period of time with interest

• a bank account that allows a customer to deposit and withdraw money and earn interest from the bank

• activities performed by people or businesses that satisfy other people's wants or needs

• money removed from a savings or checking account

Fee

• Money borrowed to pay for education. This money must be paid back.

• A form of financial aid that does not need to be repaid; usually awarded on the basis of academic, athletic or other achievements

• a sum of money charged

• A legal process to get out of debt when you can no longer make all your required payments

Click on the words related to college

• Scholarship

• Withhold

• Student loan

• Deduct

• Grant

Tags

CCSS.RL.5.1

CCSS.RL.5.2

CCSS.RL.6.1

CCSS.RL.7.1

CCSS.RL.8.1