Taxes and Pay Checks
Which state has no state income tax and is popular with retirees?
Florida
Is housing usually more expensive in urban or rural areas?
Urban
Which type of card takes money directly from your bank account?
Debit card.
What does the FDIC guarantee in U.S. banks?
Protects deposits up to $250,000 if a bank fails.
Which U.S. city is home to Wall Street, the center of America’s financial markets?
New York City.
Which state has the highest state income tax?
California
Which U.S. city is more expensive: San Francisco or Dallas?
San Francisco
Why is having a credit card important for future financial opportunities?
It helps build a credit score, which you need for loans, apartments, etc.
Which account is best for daily spending: checking or savings?
Checking account.
Which U.S. region is known as Silicon Valley, the hub for technology startups?
California (San Jose/San Francisco Bay Area).
True and False. Your paycheck will stretch further in Texas than in New York due to taxes.
True
True or False – Groceries in Hawaii cost more than in Ohio.
True
Give one example of when a debit card is smarter to use than a credit card.
Small daily purchases, so you don’t overspend or pay interest.
If you want to earn more interest than a savings account but still keep money safe, what account would you choose?
Certificate of Deposit (CD).
Where is the NASDAQ Stock Exchange located?
New York City.
Name one state with no sales tax.
Oregon, Delaware, Montana, New Hampshire, Alaska
What region of the U.S. (South, Midwest, West Coast) generally has the lowest housing costs?
South/Midwest
If you’re traveling across the U.S., what’s one advantage of using a credit card over cash?
Safer, more widely accepted, fraud protection.
Why might interest rates on savings accounts be higher at an online bank than at a local bank?
Online banks have fewer overhead costs.
Which U.S. state is most connected to the oil industry?
Texas.
If you earn $50,000 in Texas vs. California, which state leaves you with more take-home pay?
Texas
If you move from New York City to Cleveland, Ohio, will your cost of living go up or down?
Down
What’s one way a teenager in Ohio could responsibly start building credit history?
Get a secured credit card, pay balances on time, and keep usage low.
How do state differences in minimum wage impact how much money you can save?
States with higher minimum wages (like Washington or California) may allow workers to save more, while low-wage states make it harder.
What major event in 1929, starting in New York, changed the U.S. economy and banking system?
The Stock Market Crash of 1929.