Calculating Pay
What is the Gross pay if someone works 40 regular hours, 8 overtime hours, and their regular pay rate is $7.75 per hour?
$403.00
True or False, The interest rate on credit cards is much lower than on other types of credit, like mortgages or student loans.
FALSE
This is the monthly payment you make to your landlord.
Rent
This type of insurance helps you pay for medical bills.
Health Insurance
This government program gives income to people who are retired.
Social Security
Marco works 45 hours and makes $6.78 per hour, with double pay for over 40 hours. What's his gross pay?
$339.00
The maximum amount that you can charge on a credit card is called ______.
Credit Limit
When you buy a house, you make payments toward this loan monthly.
Mortgage
This is the person or entity designated to receive benefits from an insurance policy.
Beneficiary
Being a smart consumer means doing this before making a big purchase, like a car.
Comparing prices and quality.
The local machine shop hired John Dalton as a press operator. His annual salary is $34,268.00. If John is paid weekly, what is his weekly salary?
$659.00
What amount must you pay to get the grace period and not owe any interest on purchases?
The Statement Balance
This is the upfront cost when buying a house.
Down Payment
This type of insurance protects you from financial loss due to damage or theft involving your home and its contents.
Homeowners Insurance
This is the best time in your life to take financial risks.
Early adulthood
Amounts, both required and optional, subtracted from gross pay are called _________.
Deductions
Your debit card is linked to ______.
Bank account
Homeowners are responsible for these ongoing costs, like repairs and property taxes.
Maintenance and Homeownership costs
This insurance protects your income by paying your beneficiaries if you pass away.
Life Insurance
This account helps build your retirement account over time, this is offered by your employer.
401 k
For a single person, 1 allowance, who made $295 last week, how much would be taken out for State and Federal withholding?
State withholding tax: $15
Federal withholding tax: $19
This is the term for the percentage of your total available credit that you're using, this helps you maintain a good credit score.
Credit Utilization
Homeowners build this over time, increasing the value and size of their home.
Equity or Appreciated value
Before buying insurance, it's smart to do this with different policies to make sure you're getting the best value for what you pay.
Compare costs & benefits of different plans
This type of retirement account allows you to save money tax-free.
Roth IRA