Unit 1
Define NEEDS and WANTS
Needs are things that are essential to your health and security. Wants are thing that make life interesting but you can go without it.
What are the 4 types of credit
Revolving Credit, Installment Credit, Cash and Service Credit
What can be considered a living expense?
Food and Utilities
Define paystub
A pay stub is a document issued by an employer that shows an employee's gross earnings, deductions from those earnings, and net pay
Name all the assistant principals in the school
Kwan, Combs, Musialik, Salek, Winchester, Hernandez and Albritton
What is SMART?
Specific, Measurable, Attainable, Relevant and time bound.
What is Maturity date?
is the date when the final payment is due for a loan, bond or other financial product.
what is the definition of Asset
something of value that can be turned into cash
On a W2 what goes in BOX 1?
Taxable Income
How old is captain underpants?
6-9 years old
What is the length of a medium term goal.
3 months to a year.
What are all 4 pay periods?
Biweekly- 26
Weekly-52
Semimonthly-24
Monthly-12
What is the formula of average monthly expenditure?
Sum of expenditures/# of months
What is the tax bracket for federal tax?
10% to 37%
How many colors are there in a rainbow?
7
The colors of the rainbow are: Red, orange, yellow, green, blue, indigo, violet.
What does the C in Decide stand for?
Choose 2 or 3 good options.
What are the 5 C's?
Capital
Capacity
Character
Collateral
Conditions
Rent is what kind of expense?
Fixed
What is the tax bracket for NYS tax?
4% to 10.9%
What's the tallest building in the world?
Burj Khalifa in Dubai
What does the A in SAVE stand for?
AVOID BORROWING
What does the R in SHREWD?
Is there ROOM in my spending plan.
What are some hidden cost of working?
Uniform, transportation, other tools you may need for work.
What are the 3 basic tax forms?
1040,1040A and 1040EZ
What is the name of the 7 dwarfs in Snow White?
Doc, Grumpy, Happy, Sleepy, Bashful, Sneezy, and Dopey,