Education
How long will it take to get your associate degree
2 years
What type of pay is received after taxes and deductions are removed
Net pay
What insurance is required to legally drive a car?
Auto insurance
This type of money owed may include credit cards, student loans, or car payments.
What is debt?
What does a credit card allow you to do
Borrow money from a bank
What is one benefit of trade school?
Faster training / lower cost / hands-on learning
What is gross pay
Total amount earned before taxes and deductions
What insurance helps pay for doctor visits and hospital bills
Health insurance
Money left over after expenses should go into this.
What is savings?
What is one benefit of a credit card?
Builds credit score
What type of education pathway may require student loans
College
Which pay amount is usually shown on job descriptions?
Gross Pay
Why might someone choose to have renters insurance?
To protect their belongings from damage or theft
The slide recommends putting about this percentage of gross income into retirement.
What is 10%?
About what interest rate do many credit cards charge?
Around 20%
What military benefit helps pay for education?
GI Benefits
What is one reason net pay is smaller than gross pay?
Taxes and deductions are taken out of the paycheck.
How can disability insurance help someone after a serious injury?
It provides income if they are unable to work
Spending less than you earn each month helps you avoid this financial problem.
What is going into debt
What is one problem with credit cards?
Credit card debt
What is one disadvantage of joining the workforce immediately after high school?
Lower pay without a degree / fewer advancement opportunities
Why might two employees who earn the same gross pay receive different net pay amounts
Different taxes, insurance, or retirement plans.
How could not having insurance create financial problems after an accident or emergency?
A person may have to pay large medical, repair, or replacement costs on their own.
Investing, protection, saving, spending, and income are all parts of this topic
What is personal finance
A person spends more money on their credit card than they can repay each month. What financial problems could this cause over time?
Growing debt, high interest charges, and a lower credit score.