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WorksheetsPersonal Finance JA section 4
Total questions: 15
Worksheet time: 15mins
Name
Class
Date
1.
A record of income and expenses
a)
interest
b)
expenditures
c)
income
d)
budget
2.
Discretionary income is
a)
extra money after you pay your bills
b)
part of your monthly bills
c)
money you can't spend
d)
money lost to taxes
3.
Which of the following would be part of monthly bills every month?
a)
water
b)
electricity
c)
insurance
d)
all of the above
4.
Which pay is your take home pay after taxes?
a)
net income
b)
gross income
5.
Net income minus expenses gives us your what?
a)
bills
b)
interest
c)
account balance
d)
income
6.
When you buy one thing it might make it so you can't buy another item you want also. What is this called in our book?
a)
lame situation
b)
bad luck
c)
opportunity cost
d)
scarcity
7.
When making a budget you should save some money for long term goals. How long are long term goals?
a)
over a week
b)
over a month
c)
over 20 years
d)
over a year
8.
Everyone pays this type of tax.
a)
income
b)
sales
c)
FICA
d)
estate
9.
FICA tax on your paycheck is collected for Medicaid and what else?
a)
income tax
b)
sales tax
c)
social security
d)
health
10.
One item many people forget to budget for is?
a)
gifts
b)
housing
c)
food
d)
transportation
11.
Colorado has a state income tax.
a)
true
b)
false
c)
no one knows
d)
I live in Nebraska
12.
Bonus question- which of these states has a state tax?
a)
Alaska
b)
Illinois
c)
Florida
d)
Neveda
13.
There is always a way to get to college if you really want to go regardless of your family's money situation.
a)
true
b)
false
c)
crazy
14.
A debit card uses money from your checking account, no interest is charged.
a)
true
b)
false
c)
sometimes
d)
who knows
15.
Credit cards charge interest which can make items more expensive, what is an advantage of credit cards?
a)
look cool
b)
Rewards like cash back or air miles
c)
debit cards don't work at stores
d)
charges your checking account right away
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