Financial Literacy

TAXES

100

THIS IS THE MONEY YOU ACTUALLY TAKE HOME IN YOUR PAYCHECK AFTER FEDERAL TAXES AND OTHER DEDUCTIONS ARE WITHHELD. 

NET PAY 

200

YOU RECIEVE THIS FORM FROM YOUR EMPLOYER EVERY YEAR, SHOWING THE TOTAL WAGES YOU EANRED AND THE EXACT AMOUNT OF TAXES WITHHELD FROM YOUR PAY.

W-2 FORM 

300

JULIE IS NOT MARRIED AND HAS NO CHILDREN.  SHE IS 22 YEARS OLD AND IS GETTING READY TO FILE HER TAXES. WHAT FILING STATUS WOULD JULIE CHOOSE TO FILE UNDER?

SINGLE 

400

AS A TEEN IN CONNECTICUT, YOU DO NOT NEED TO FILE UNLESS YOU MAKE OVER THIS AMOUNT OF MONEY ...... 

$16,000 FOR CONNECTICUT

$15,100 FOR FEDERAL 

500

WHAT ARE THE TWO PROGRAMS FUNDED BY YOUR FICA TAXES (OASDI).  

SOCIAL SECURITY AND MEDICARE 

CREDIT CARDS

100

THE SMALLEST AMOUNT YOU MUST PAY ON YOUR CREDIT CARD BILL BY THE DUE DATE TO AVOID LATE FEES AND KEEP YOUR ACCOUNT IN GOOD STANDING IS CALLED.....

MINIMUM PAYMENT 

200

A CREDIT SCORE IS MADE UP OF THIS MANY NUMBERS...

THREE 

300

EXPERTS RECOMMEND KEEPING YOUR CREDIT UTILIZATION RATIO BELOW THIS PERCENTAGE TO MAINTAIN A HEALTHY CREDIT SCORE.

30%

400

THIS IS THE DETAILED STATEMENT OF YOUR CREDIT HISTORY, INCLUDING LOAN PAYMENT HISTORY, DEBT LEVELS, AND EMPLOYERS USE IT TO EVALULATE YOUR FINANICAL RELIABILTY.  

A CREDIT REPORT

500

WHAT IS THE CREDIT CARD ACT OF 2009? 

RESTRICTS CREDIT CARD MARKETING ON COLLEGE CAMPUSES ADN PROHIBITS THE ISSUANCE OF CREDIT CARDS TO ANYONE UNDER THE AGE OF 21 UNLESS THEY HAVE AN ADULT CO-SIGNEROR PROOF OF INDEPENDENT INCOME.  

INSURANCE

100

WHAT ARE THREE REASONS WHY YOUR CAR INSURANCE MIGHT HAVE A HIGH MONTHLY PREMIUM? 

- LOTS OF TICKETS

-YOU ARE YOUNG

- YOU HAVE BEEN IN CAR ACCIDENTS BEFORE 

200

THIS TYPE OF INSURANCE IS USED TO PROTECT FROM FINANCIAL LOSS IF A PERSON NEEDS DAILY CARE OR ASSISTANCE DUE TO CHRONIC ILLNESS, DISABILITY, OR AGE. 

LONG TERM CARE INSURANCE 

300

THIS TYPE OF INSURANCE IS AVAILABLE TO PEOPLE WHO RENT A HOUSE OR APARTMENT 

RENTERS 

400

WHY DO WE NEED INSURANCE? 

TO PROTECT US FROM FINANCIAL LOSS. 

500

JASMINE HAS AN APARTMENT DOWN ON BANK STREET.  SHE JUST MOVED IN AND IS TRYING TO JUGGLE BEING AN ADULT. HER CAT LOVES LAYING IN THE WINDOW AND LOOKING OUT ON THE STREET. JASMINE JUST BOUGHT A NEW JEEP AND CAN'T WAIT TO TAKE IT TO THE BEACH WITH HER SOON TO BE HUSBAND. WHAT TYPES OF INSURANCE WOULD YOU RECOMMEND FOR JASMINE?  

PET

RENTERS

WEDDING

CAR

CHECKING/SAVINGS

100

WHAT DOES UNBANKED MEAN? 

REFERS TO SOMEONE WHO DOES NOT HAVE A BANK ACCOUNT 

200

WHEN YOU OPEN A CHECKING ACCOUNT AT YOUR CHOICE OF BANK WHAT IS SOMETHING THAT YOU ARE ALSO GIVEN? 

DEBIT CARD

STARTER CHECKS (IF AVAILABLE)-

300

WHAT IS INTEREST IN TERMS OF SAVINGS ACCOUNTS 

INTEREST IS MONEY YOU EARN BY SAVING MONEY IN THAT ACCOUNT TO GROW 

400

WHEN YOUR PAYCHECK IS PUT INTO YOUR CHECKING ACCOUNT BY YOUR EMPLOYERS THIS IS KNOWN AS WHAT? 

DIRECT DEPOSIT 

500

NAME TWO BANK FEES 

OVERDRAFT FEE

ATM FEE

INVESTING

100

AS AN INVESTOR, WHEN YOU PURCHASE A __________ FROM A COMPANY, YOU ARE LENDING THE COMPANY MONEY WHICH IT PROMISES TO REPAY WITH INTEREST BY A CERTAIN DATE. 

BOND 

200

THIS TYPE OF RETIREMENT ACCOUNT IS WHEN AN EMPLOYEE CONTRIBUTES A PORTION OF THEIR SALARY, WHICH IS THEN INVESTED FOR RETIREMENT INTO THE STOCK MARKET. SOMETIMES THE EMPLOYER WILL ALSO MATCH THE CONTRIBUTION 

401k

300

WHY SHOULD A STUDENT INVEST EARLY FOR RETIREMENT? 

THE EARLIER YOU START THE MORE YOU WILL BENEFIT FROM THE POWER OF COMPOUND INTEREST. 

400

WHAT IS SOMETHING THAT CAN INFLUENCE A STOCK PRICE? 

SUPPLY AND DEMAND

NEWS ABOUT THE COMPANY 

ANTICIPATION OF UPCOMING EVENTS

500

WHEN A COMPANY MAKES A PROFIT, IT MAY CHOOSE TO PAY PART OF THOSE PROFITS BACK TO ITS SHAREHOLDERS IN THE FORM OF __________________. 

DIVIDENDS