Insurance
This insurance protects you no matter whose fault the accident is. This insurance will pay to fix your vehicle.
Liability Insurance
Collision Insurance
Comprehensive Insurance
Medical Insurance
Uninsured Motorist Insurance
Collision Insurance
options:
electricity
heating and cooling
water
internet
gas
trash/recycling
What is a budget?
A spending plan.
This is the amount of money you are paid after all deductions are taken out.
net pay
This will pay to fix your vehicle if there is a problem because of something other than an accident.
Liability Insurance
Collision Insurance
Comprehensive Insurance
Medical Insurance
Uninsured Motorist Insurance
Comprehensive Insurance
List 3 ways that you could save money on your water bill.
-shorter showers
-fill washer/dishwasher when washing items
-turn off tap water when brushing teeth
ect.
You are living on your own and want to create you own budget. List 2 different ways that you could do this.
-paper
-budgeting app
-online websites
This is the amount of money you earn before deductions are taken out.
gross pay
What is a deductible?
The amount you pay before insurance starts to kick in.
List 3 ways that you can save money on your electric bill.
-switch to energy efficient light bulbs
-turn off lights when leaving a room
-unplug electronics
ect.
What percentage of your monthly budget should you try to spend on wants, needs, and savings?
wants: 30%
needs: 50%
savings: 20%
Money that is subtracted from your paycheck to be saved and paid back to you when you retire; this is sometimes written as FICA on your paycheck
social security
List 4 companies that you could get car insurance from.
GEICO
State Farm
Allstate
Progressive
ect.
Name a company where you could set up each of the 5 utilities below.
1. Water
2. Trash
3. Internet
4. Electric
5. Gas (heat)
1. City of Grand Rapids
2. City of Grand Rapids
3. Xfinity
4. Consumers
5. DTE
When planning a budget is it best to...
-overestimate expenses and underestimate income
-budget the exact same amount spend in the previous month
-overestimate expenses and underestimate income
Money that is subtracted from your paycheck and given to your state’s government to help run the state
state income tax
-job/income
-age
-tobacco use
-country you live in
-plan type
-laws
Money that is subtracted from your paycheck and given to the federal government to help run the country
federal income tax