Cade Personal Finance SS Review 3.29.21

What is the purpose of a budget? Select all that apply.

• Understand your expenses for each month

• Identify your all of your income sources and amounts

• Understand how much money you have to spend on things you enjoy doing

• Understand how much money you have to spend on rent, food, and other required expenses each month

Budgets compare which of the following items?

• Income

• Expenses

• Taxes

• Insurance

Why is it important to know your strengths and weaknesses? Select all that apply.

• Identify areas you are good at

• Identify areas you need support in

• Understand areas that could be a problem for you

• Understand areas you could be of help to someone else with

What is the purpose of a job application?

• Make the employer aware of your qualifications

• Let the employer know you want to be considered for this job

Which of the following are parts of a job application?

• Personal Background Information

• Previous Job Experience

• Education

• Transportation

• Family History

Select all of the ways job references can help you.

• Provide support for you get a new job

• Highlight past successes at old job

• Show reasons why new employer should hire you

• Explain ways you failed at your old job

Total income INCLUDING taxes is called

• Gross income

• Net Income

Income or paycheck with taxes taken OUT is called

• Gross income

• Net income

The percentage of money you pay to the government based on your income

• Federal Income tax

• Social security

• Insurance

Federal Income tax is used to pay for which of the following

• Government services like police and highways

• Security for the country

• Security for airports

• Sales taxes