Taxes
_______ are often based on what you earn, buy, and own.
What are tax amounts?
Something that you need in order to survive
What is a need?
True or false: Student debt can be cleared with standard bankruptcy.
False
________ is when you are using borrowed money that you agree to pay back later.
What is credit?
Which board game has made more people argue about money than almost any other?
Income Taxes are collected by the federal government but can also be owed to the ______ and ______ in which you live and work
What are state(s) and city(s)?
A plan that helps you know how much money you make, spend, what you purchase, and how much you save
What is a budget?
All types of federal loans are offered for ____________ students.
What are undergraduate students?
An account where you can deposit and withdraw money without any fees typically is known as a
What is a Transactional Account or Checking Account?
This Founding Father appears on the $100 bill even though he was never a U.S. president.
Benjamin Franklin
April 15th is commonly known as ________
When is Tax Day?
When looking to reduce your spending this category should be what you look at first
What are your wants?
Lower, fixed interest rates, and more payment options are available with _____ student loans
What are federal student loans?
_______ uses money you already have in your checking account
What is a debit card?
True or False: A penny costs more than one cent to make.
True
The IRS stands for ___________ ____________ _____________
What is the Internal Revenue Service?
Savings are designed to help you when _________
What are future goals or emergencies?
92% of people who owe student debt have this type of loan
What are federal student loans?
____________ account is used for everyday spending and paying bills
What is a checking account?
What is the only U.S. bill that features two signatures?
What is Every U.S. bill (the Treasurer's and Treasury Secretary's signatures).
The amount of money you actually take home after taxes and deductions are taken out of your paycheck
What is net income or take home pay?
A recommended way to create a budget where 50% is spent on needs, 30% on wants, and 20% is put into savings
What is the 50-30-20 method?
A loan where the government will pay the loan interest rate until the student is out of school
What is a subsidized loan?
These fees can be avoided by maintaining required minimum balances.
What are minimum balance fees?
Which company was the first to reach a $1 trillion market value?
Hint: It is a Tech Company