Unit 1: Postsecondary Education
What are the potential paths you can take after high school?
College, trade school, or the military
What is an example of a need?
Water, shelter
What is the last day to file your taxes?
April 15th
What are 3 ways you can deposit your money?
In person (lobby), ATM, Drive-thru, Direct deposit
Why is your credit score important?
It affects your ability to get loans, rent housing, and secure lower interest rates.
Which type of educational institution typically has higher tuition fees?
Private Schools
What distinguishes gross pay from net pay?
Gross pay is before taxes; net pay is after taxes.
What is the earliest you can file taxes, but may not have all the proper documents needed.
Late January - 27th
What is one benefit of online banking?
24/7 access to accounts
Why is it important to check your credit report or bank statement each month?
To identify errors or unauthorized transactions and protect against fraud.
What does the acronym FAFSA represent?
Free Application for Federal Student Aid
Why is budgeting important?
It helps you plan how to use your money to reach financial goals.
What does a W-2 form indicate?
Income earned by an employee
Why is maintaining an emergency fund crucial?
To cover unexpected expenses
What is the primary function of a checking account?
Facilitating day-to-day transactions
What is the primary function of FAFSA?
To apply for financial aid, loans, and grants
What is the main goal of creating a budget?
To track spending and set financial goals
What 2 forms do you fill out on your first day of a new job?
w-4 and I-9
What does a Person 2 Person App for online banking do?
An app where you can transfer funds from 1 person to another
What is the main difference between a debit card and a credit card?
Debit cards withdraw from your bank account; credit cards borrow money
When does the FAFSA application period usually begin each year?
October 1st
If Sarah works 40 hours per week and earns $15 per hour, what is her gross pay for the week?
$600
What is the purpose of the 1040 tax form?
To report income and calculate taxes owed
Why is it important to review your bank statement each month?
To be sure there were no errors, and no one took anything from you
What is the primary function of a bank?
To accept deposits and provide financial services