Intro
The ability to understand how money works in the world
What is financial literacy?
This refers to documentation of previous financial transactions
What are financial records?
Something that is being sold at a reduced price is on ____________________
What is on sale?
Mandatory payments of money imposed by the government
What are taxes?
What is a contract?
The amount of money that is received in exchange for goods and services
What is income?
This refers to something that adds value to your life, such as property or a car
What is an asset?
Form of ID that is issued at an individual's birth
What is a birth certificate?
Type of tax you pay when you purchase a good or a service
What is sales tax?
Having ____________ protects you from financial loss
What is insurance?
Goods and services that require you to spend money
What are expenses?
This refers to money that you owe, such a car loan or cell phone plan
What are liabilities?
A numerical identifier given to US citizens
What is a social security number/card?
A tax form used to document and report earned income
What is a W-2?
Type of insurance that covers medical expenses
What is health insurance?
This type of goal can be achieved within 1 year
A phone bill is a(n) ______________________
What is a liability?
Victims of identity theft often lose lots of _________________
What is money?
Name something that government uses tax dollars for
What is school, roads, police, fire department, water systems, national parks, national defense?
The amount of money you PAY each month for insurance
Buying a car is an example of this type of financial goal
What is long-term?
A car that you own is a _____________________
What is an asset?
Advertisements aim to influence....
What are consumers?
The book costs $21.99. The sales tax rate is 5.75% (0.0575) How much would you pay in sales tax?
What is $1.26?
The amount of money you have to pay BEFORE insurance will cover costs
What is a deductible?