Just got Paid
The money you earn through employment
What is a paycheck?
A request for payment of money owed. For example an electric or other utility_____.
What is a bill?
Anything that people accept in exchange for goods and services
What is money?
A place that you can safely put your money
What is a bank?
A plan for spending money
What is a budget?
A payment of money for labor or services usually according to contract and on an hourly, daily, or piecework basis.
What is a wage?
Name a type of expense you have every month.
What are utility or credit card bills, car or personal loans?
A written order to a bank to pay an amount of money to a person
What is a check?
A secure fireproof box that is shoebox size
What is a safe-deposit box?
A part of your budget that refers to all the money you have coming in to you
What is income?
The total amount you earn before any deductions are taken out.
What is gross pay?
This is the name of the expense you pay for where you live.
What is your rent or mortgage?
Carrying all of your money around in cash is useful for paying for the things you need, True or False?
False. Carrying too much cash is not a good idea. It could get lost or stolen.
When banks charge their customers money for different banking services
What are fees?
The two parts of a budget are called...
What are income and expenses?
You get to keep all the money you earn. True or False?
False. Some of your income (or money you earn) goes to pay for taxes such as social security, medicare, and federal and state taxes.
True or False? You can pay your bills with cash.
True! Even though paying each bill with cash can be time consuming because you have to go from one location to the next to pay the company directly.
This type of money allows you to buy something now and pay for it later.
What is a credit card?
When you save money in a bank and it earns interest it is called a ______.
What is a savings account?
How much of your paycheck should you save to build up several months worth of earnings for emergencies?
What is about 10 percent
You earn overtime when....
What is you work over 40 hours per week as a nonexempt employee?
If you are sending money through the mail to pay a bill, what kind of money should you use?
What is a check?
When should you use cash?
For situations when credit or debit cards are not normally accepted: tips, tool booths or parking fees, vending machines
When you add money to your account, you use this..
What is a deposit slip?
Name two ways to stay on budget when you would like to purchase some new shoes that you want but cannot really afford
What is wait and buy the new shoes the following month when you have more money and what is increase your income by working more hours at your job to earn extra pay.