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WorksheetsManaging Money
Total questions: 23
Worksheet time: 1hrs 9mins
What is a need?
Something you must have
Something you'd like to have
Something you would like to do
All of the above
Deductions are:
Items that are taken out of your paycheck
The stub ends of your paycheck
Those times you work for no pay
Any overtime pay you receive
Net pay is:
The taxes that the employer keeps
The amount you take home
The extra money you receive for overtime
Hourly pay rate times hours worked
Paul works in a florist shop. He works 35 hours per week and makes $8.00 per hour. He is paid every two weeks. His deductions total $89 per pay period. What is his net pay per pay period?
$280.00
$191.00
$471.00
$560.00
Gross pay is:
An amount of money too large to carry
Your paycheck amount before deductions
A really ugly-looking paycheck
Your paycheck amount after deductions
Now let's figure Jose's gross pay. Jose earns $23,010 per year and is paid every two weeks. How much is Jose's gross pay per pay period?
$442.50
$500
$885
$958
Why is it important to develop a monthly budget?
It will help make sure you can pay your bills.
It will help you prioritize spending.
It will help you use your money wisely.
All of the above.
Which of the following is least important when determining your budget?
overtime pay
net pay
anticipated expenses
deductions
Which of the following are important items to include in your anticipated monthly expenses?
rent
utilities
groceries
all of the above
Your net pay is $312.50 every two weeks. If you want to save 10 % of your take home pay, how much should you save from your paycheck?
$11.17
$31.25
$37.27
$25.00
Amount of your paycheck before any money is taken out
gross pay
net pay
Items taken out of gross pay, such as federal taxes
Net pay
Deduction
The money you make during a pay period
Paycheck
Bank
An unexpected expense not planned for
Emergency
Loan
When making a budget, a person’s needs should come before their wants.
True
False
If an expense can NOT be removed from your budget to save money, it is considered a _____.
Income
Want
Need
Savings
