Personal Finance

Everyone makes choices about how to manage his or her money/income from a job. This is also known as what?

• Personal Finance

• Government

• Civics

• Geography

What is debt?

• Money you have borrowed and need to pay back

• Money you make from working at a job

• Money you make from the government

• Taxes that you pay when you buy something

What is a budget?

• A plan for how money will not be used

• A plan for how money will be used

• The amount you spend

• The amount you save

What is this called?

• A Check

• A credit card

• A debit card

• Money Order

Disposable income

• Income after all deductions have been paid

• Income before all deductions have been paid

• I don't know. Leave me alone!

• Income left over after all expenses are paid.

Sarah is employed at a department store where she earns $18 per hour as a supervisor. Her working hours fluctuate depending on the season, so she has recorded her total hours worked for the past 6 months. Use the table provided to compute Sarah's average gross monthly income. Round your answer to the nearest whole dollar.

• $1,234

• $2,739

• $913

• $2,456

The income part of a personal budget

• is not important if it is large.

• only includes money from a paycheck (job).

• includes all income from various sources.

• is the amount left over.

If someone makes $100,000 a year, how much do they spend on clothes?

Note: 25% = 0.25

Mathematical Equivalence

ON

paying for something with money that is borrowed and must be paid back, usually with interest

• credit

• income

• resources

• salary

What is an emergency fund?

• A savings account set aside for unexpected situations.

• A way to invest for retirement.

• Something most people don't need, because emergencies are rare.

• An investment account that can grow over time.