College Financial Literacy

A plan for using money is called a ___________

• loan

• savings

• income

• budget

The money you earn is called

• expenses

• donations

• income

• savings

Money you receive before taxes is called:

• gross income
• net income
• pay day
• bank loan

Money you receive after taxes is called:

• gross income
• net income
• salary
• pay day

What type of tax do you pay for Cheetos and soda?

• income tax
• sales tax
• property tax
• payroll tax

Which type of tax is taken directly out of your paycheck?

• payroll tax
• income tax
• paycheck tax
• sales tax

Which type of tax do you pay once a year on any money you've earned (job, lottery, etc)?

• payroll tax
• income tax
• sales tax
• property tax

Monthly Netflix bill

• Fixed expense
• Variable expense

Buying a new pair of shoes

• Fixed expense
• Variable expense

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

• balance
• debt
• withdrawl
• payment