Financial Literacy

Mr. Porter wants to spend an extra $150 this weekend on a family outing tot he state fair. Which of the following could be a way to adjust his budget to allow for the extra expense?

• Work fewer hours this week
• Work overtime
• Give money to charity
• Increase gasoline usage

When is Mr. Simon's budget balanced?

• When his monthly expenses are greater than his total income.
• When his income is greater than his expenses
• When his weekly expenses are greater than his monthly income
• When his income is equal to his expenses

Savannah earned $1300.00 at her job. Her paycheck was made out in the amount of $973.22. What kind of tax was taken out of her earnings?

• sales
• payroll
• income
• property

Alex bought a new car priced at $13,840 but he paid $14,597. What kind of tax did he pay?

• property
• payroll
• income
• sales

A city collects money from the people who live in it to pay for police protection and other city services. People who own houses or land pay this tax. What kind of tax is this?

• sales
• income
• property
• payroll

Dan earns $436.54 a week at his job. $102.38 is taken out and he takes home $334.16. What does $436.54 represent?

• net income
• sales tax
• gross income
• payroll tax

Dan earns $436.54 a week at his job. $102.38 is taken out and he takes home $334.16. What does $334.16 represent?

• net income
• sales tax
• gross income
• payroll tax

Dan earns $436.54 a week at his job. $102.38 is taken out and he takes home $334.16. What does $102.38 represent?

• net income
• sales tax
• gross income
• payroll tax

Ramon keeps exceeding his monthly budget by $100. Which is the best way for him to balance his budget from now on?

• Sell some of his clothes every week
• Find a roommate to share the rent
• Skip school one day a week
• Walk to all of his destinations

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.