Sales Tax & Percentages
Tipping
ATM Safety
Spending Plans
Expenses/Other
100

How do you calculate sales tax?

Total Cost × Sales Tax Rate

100

What is the standard tip percentage for good service at a restaurant?

15-20%

100

True or False: It’s safe to use an ATM in a well-lit, public area.

True

100

What is the first step in creating a spending plan?

Know your income and expenses. 

100

What is a fixed expense?

An expense that stays the same each month (e.g., rent)

200

If a shirt costs $20 and the sales tax rate is 8%, how much will you pay in total?

$21.60

200

If your dinner bill is $50 and you want to leave a 20% tip, how much should you tip?

$10

200

What should you do if someone suspicious is standing near you at an ATM?

Cancel your transaction and leave. 

200

True or False: A spending plan is the same as a budget.

True! It's just another word for it.

200

What is a variable expense?

An expense that changes each month (e.g., groceries)

300

True or False: Sales tax rates are the same in every state.

False!

300

Name one profession where tipping is commonly expected.

Hairdresser, delivery driver, taxi driver, etc.

300

What is an ATM fee? How can you avoid a fee?

A fee associated with using an ATM. You can avoid a fee by using an ATM that is a part of your bank. 

300

Why is it important to review and adjust your spending plan regularly?

To ensure it aligns with your financial goals and current circumstances

300

True or False: All wants are bad for your financial health.

False (moderation is key)!


400

What are taxes used for?

Funding things like: fire and police departments, fixing roads, libraries, funding schools, etc. 

400

If your bill is $75 and you leave a 15% tip, what is your total payment?

$86.25

400

What else can ATM's be used for aside from taking out money?

Checking your balance, checking recent transactions, depositing checks (some)

400

Your __________ should not be more than your _________ if your budget is balanced. 

Your expenses should not be more than your income if your budget is balanced. 

400

What is an emergency fund, and why is it important in a spending plan?

Savings for unexpected expenses; it prevents financial crises

500

What does it mean to be tax exempt?

You don't pay taxes. Most nonprofits are like this!

500

Name two reasons why we tip. 

People we tip are providing a service to us. 

Most service workers don't make minimum wage and rely on tips. 

500

What is a “skimming device,” and why is it dangerous?

A device thieves use to steal card information; it’s dangerous because it can lead to identity theft.

500

Name one tool that can help you create and track a spending plan.

Spreadsheet, financial app, physical budgeting sheet 

500

How can a spending plan help you achieve long-term financial goals?

By ensuring you save and invest consistently

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