Personal Finance

What is added to the price of anything you purchase?

• Tax

• a rounded up donation

• A fee for shopping in a specific store

• everyone rounds up to an even dollar amount

When you write a check, you are ________________ money ___________ your account.

• taking/out of

• adding/into

If you borrow money to pay for a car, why would you end up paying extra money in the long run?

• You'll have to pay interest on the loan.

• The car dealerships are thieves.

• The dealership collects extra money for any car repairs in your future.

What do you call the TOTAL amount of money earned per paycheck?

• Gross Income

• Net Income

• Pretend Income

• Taxable Income

What do you call the amount of money you receive in your paycheck after all expenses like taxes, social security, and health insurance are taken out?

• Net Income

• Gross Income

• Pretend Income

• Taxable Income

What is the 50-20-30 plan?

• 50% needs

  20% savings

  30% wants

• 50% savings

  20% wants

  30% needs

• 50% wants

  20% needs

  30% savings

• 50% savings

  20% needs

  30% wants

What are the following? Candy, new shoes, video game, movie tickets

• Wants

• needs

• requirements

• wasted money

What are the following? Shelter, groceries, electricity, water, clothing

• Needs

• Wants

• Requirements

• Wasted Money

Saving for college tuition would be

• a long term goal

• a short term goal

• an easy goal

• impossible

Saving up for a new pair of shoes would be

• a short term goal

• a long term goal

• dumb, because I can just ask for the money

• impossible