WorksheetsMath - financial literacy
Total questions: 22
Worksheet time: 36mins
When you pay taxes at a store, what kind of tax is it?
sales tax
property tax
income tax
When you pay taxes on a home or land that you own, what kind of tax is it?
sales tax
property tax
income tax
When you pay taxes on the money you earn, what kind of tax is it?
sales tax
property tax
income tax
The amount you earn before taxes and other deductions is called -
gross income
net income
The amount you take home after taxes and other deductions is called -
gross income
net income
When you make a plan for your money, it is called -
a budget
gross income
net income
property tax
In a balanced budget -
your income matches your expenses
your income is greater than your expenses
your expenses are greater than your income
you can forget about saving money
Mark the items that are considered "debt"
car loans you have to repay
credit card charges
money you earn
money you save
When you take money to the bank and put it into your account, you are making -
a withdrawl
a deposit
a loan
a debt
When you go to the bank and take money out of your account, you are making -
a withdrawl
a deposit
a loan
a debt
When borrow money, you are taking out -
taxes
a deposit
a loan
a budget
If you are trying to balance your budget and you see that you do not have enough income, wise choices would be -
(select all that apply)
find a way to earn more income
find a way to increase expenses
use credit cards
take out a loan
work on reducing your expenses
Taxes are used by the government in what way? (select all that apply)
to build roads
to deposit money into your bank account
to provide for the military
to build schools and libraries
Which card takes the money out of your bank account immediately?
Credit card
Debit card
Which card sends you a bill that has to be paid back?
Credit card
Debit card
Match the following
Income Tax
Paid yearly on April 15th
Payroll Tax
Paid monthly by employer
Sales Tax
Paid when purchasing goods and services
Property Tax
Paid when someone owns a house or land
Curtis purchased a new pair of jeans for $18. When Curtis pays for his jeans his total is almost $20 because of taxes. Which type of tax does Curtis pay?
Payroll Tax
Income Tax
Sales Tax
Property Tax
Gross income is the amount of income you receive for buying goods and services
Money that you earn or receive is called -
Debt
Julie thought her paycheck would be $1,000. She noticed her check was only $842. Which type of tax cause Julie's paycheck to be less than she thought?
Payroll Tax
Monthly income
Sales Tax
Property Tax
Julie thought her paycheck would be $1,000. She noticed her check was only $842. $158 seemed to be missing. Match each amount to the correct label.
$1,000
Gross income
$842
Net income
$158
Deductions such as taxes
money earned
money spent on entertainment
rent or house payment
car payment
electric bill
