Financial Literacy

•  When paying taxes in the U.S., the more money you make, ____________________.

• the less taxes you pay

• you don't have to pay

• everyone pays the same amount

• the more taxes you pay

One major problem with using credit cards is that people...

• buy things they can't afford

• lose them a lot

• have to pay to use them

• forget them

• A ___________ is a plan for how you will spend your money.

  
  

• cash journal

• budget

• paycheck

• credit card

• If you make $40,000 per year, how much is Uncle Sam going to take from you for taxes?

• $200 (.5%)

• $1000 (2.5%)

• $10,000 (25%)

• $20,000 (50%)

• What is the most important reason to invest?

• help other businesses

• to have money to live on once retired

• buy new car

• to get rich quick

Which is NOT an example of an investment?

• real estate

• Brand new luxury car

• stocks

• mutual fund

• What are the two main reasons to save money? 

• so you can invest and donate it

• for emergencies and to buy everything you want

• for emergencies and major purchases

• to pay off credit cards and major purchases

• Which item below would certainly depreciate if you owned it?

• car

• house

• gold

• all choice are correct

• Health insurance is...

• more important for women than men

• only for sick people

• an unnecessary expense you may not need

• a must buy for your budget

• Which of the following is a true statement about credit cards?

• they are evil

• You should have one and use it responsibly, building good credit

• it's free money

• if used, you will go into debt