What type of tax form would you fill out to file your federal income taxes?
What is 1040EZ
100
When you borrow money there is always some cost associated with borrowing. What is this cost known as?
What is interest.
100
What website would I look at if I were looking for a cars retail value?
What is Kelly Blue Book
100
---------is paying someone else for the use of something.
What is renting
100
Name two utilities you would have to pay when renting an apartment or home?
What is gas, water, electricity, and sometimes cable
200
What form is necessary to complete a 1040ez? (This form will show your wages and the amount of taxes withdrawn from your pay )
What is W-2
200
A credit report gives a detailed description of an individuals what?
What is credit history. (bills, loans, credit accounts)
200
What a car is worth based off of condition, mileage, and other factors is known as----------value.
What is book.
200
It is generally cheaper monthly to buy a house rather then rent a house.
True or False
What is false
200
What is an entertainment expense?
What is anything that is unnecessary to live. Usually someones hobby.
300
What type of tax that is imposed on purchases?
What is sales tax
300
A credit score ranges from.....
What is 300-850
300
Two pros of --------- a vehicle is that there are little or no down payment and I can get a new car every few years.
What is leasing.
300
Name 1 reason out of the five I gave you in class why someone would rather rent than buy.
What is Flexibility, Career uncertainty, Income uncertainty, Bad credit, No maintenance expenses
300
When tight on money where is the first place you should start spending less money?
What is entertainment.
400
Excise tax is placed on non-essential goods such as
What is tobacco, gas, alcohol, hotels, sometimes restaurants
400
What type of loan application would I feel out when looking to go to college?
What is Fafsa
400
Name two cons of leasing a car.
What is
Always have car payment
You never OWN the car
Mileage restrictions
Higher insurance costs
charges for excess wear and tear
Higher credit score requirements
Typically must be 18 or older
400
Name 1 reason out of 4 why someone would want to buy a house.
What is equity, creative control, tax deductions, maintenance choices
400
Name on extra expense you would have if you decided to go to college.
What is books, room and board, student loans
500
What is the sales tax in the state of Massachusetts?
What is 6.25%
500
This type of interest rate I would use if I had good credit and wanted to get locked in at a certain rate.
What is fixed interest rate
500
Name two hidden costs associated with purchasing a vehicle.
What is sales tax, property taxes, insurance, gas, general maintenance
500
What is creative control?
What is being able to decorate and change anything you want
500
What is GAP insurance when talking about car insurance?
What is GAP insurance is when you have a insurance that will cover what the difference is between the amount you still owe on the car and what the car itself is worth.