True or false
False: a Credit card is borrowed money and has to be payed off.
A Budget is
a spending plan based on income and expenses.
What should you do first if you lose your wallet that contains Your credit card, debit card, license and some cash.
Cancel your cards!
Pam's daughter just had a baby. Was it a Boy or Girl?
Girl
Living independently means you never have extra spending money.
False: if you budget your money correctly you can have extra money.
Net pay is.
Total earnings after payroll taxes and other deductions; also called take-home pay.
What should you do to your credit card once you closed that account?
Shredd or cut up the card.
What New internship did we get this round?
S.O.A.R
A check is Piece of paper used at the time of purchase as a form of payment.
True
Gross Pay
Total earnings before any deductions are taken.
Name 3 Fixed expenses.
Rent, Morgage, Cell phone bill, Netflix, Hulu, car payment, insurance etc.
When is Graduation?
May 31st
Overdraw is money put into a bank account.
False:
it is to write a check or make a withdrawal when there isn't enough money in the account to pay for it; withdrawal from a bank account exceeds the available balance.
Deduction is
Any items subtracted from your paycheck, including state and federal income taxes, Social Security, health insurance or 401(k) contributions.
Name 3 variable expenses
Groceries, Gas, Light bill, car repairs, pet expenses, shopping etc.
What is Lynette's Son's name?
Ian
Safe security is one of deductions taken out of your paycheck.
False: Federal, state, social security and other benefits your job offers like dental medical etc.
What is the difference between fixed and variable expenses?
Fixed expenses stay the same and variable expenses change.
Name something that you use or benefit from that were funded by taxes.
public schools, Programs (like special Olympics) Medical insurance, Food stamps, Roads, sidewalks, Police and fire departments.
What is Jessica's son's name?
Coleson