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WorksheetsFinancial Literacy
Total questions: 20
Worksheet time: 18mins
The money you earn before taxes and other deductions is called...
Money taken from your income before you are paid is called...
This is money paid out of your income to the Government to help the country run.
Taxes
People create and keep a personal budget to help them _____.
set and reach financial goals
apply for loan
buy anything they want
earn promotions at work
Which of the following are considered variable expenses? (Choose ALL that apply.)
Magazine subscription
Electricity
Insurance coverage
Clothing
Recreation and vacation
Which of the following are considered fixed expenses? (Choose ALL that apply.)
Cable subscription
Electricity
Insurance coverage
Rent
Medical fees
Which of the following are considered WANTs? (Choose ALL that apply.)
Concert tickets
Water
A new pair of shoes
Rent
Medical fees
Which of the following are considered NEEDs? (Choose ALL that apply.)
Airpods
Water
A new pair of shoes
Food
Playstation 5
"Pay yourself first" means to assign a portion of your income for your personal savings.
True
False
Two things you must know to create a budget are...
your income and your expenses
your fixed & variable expenses
Your needs and your wants
how to work the computer software
A budget is ___________.
a list of what to buy at a store
a plan for managing your money.
the things you shouldn't do
a way to save money each month
The goal of a budget is _________________.
to spend more than you make
to spend less than you make
Another name for net income is...
Take-Home Pay
My money now
Annual Income
Monthly Income
Medicare is ....
payments for medical bill
a tax that helps pay medical bills for the elderly and disabled
A free type of hospital
a way to get free medical insurance
The tax that helps pay for the elderly and disabled to have a steady income is called....
FICA
MEDICARE
SOCIAL SECURITY
OBAMA CARE
List at least two ways you can make a charitable contribution.
Why do you think having good credit is important?
What is one financial goal you have right now?
