Work Force
The date that you get paid is called:
A) Pay date
B) Birthday
C) Pay holiday
D) Pay day
Pay date
This is something every spending plan should have.
A) Goals
B) Grocery list
C) Shopping list
D) Social security number
Goals
How much of each paycheck should you aim to put away in savings?
A) 10%
B) 20%
C) 40%
D) 50%
Money paid to the federal government.
Federal Income Tax
The abbreviation for the amount of money you have earned so far that year
a) YTD
b) PTD
c) FIT
d) SSN
a) YTD
Any hours worked more than 40 hours/week are considered working ___.
A) After hours
B) Overtime
C) Bonus
D) Taxes
Overtime
The term used to describe the things you spend your money on.
A) Expenditure
B) Salary
C) Spends
D) Expenses
Expenses
Of the following, which should you put your money towards first?
A) Debt
B) Emergency Savings
C) Retirement
D) Long-Term Saving Goals
A) Debt
Money paid to local state.
State Income Tax
What does SSN stand for?
A) Super sonic number
B) Super silly number
C) Super surprising number
D) Social security number
Social Security Number
What do you call the specific week(s) covered on that paycheck?
A)
Pay period
What is a checking account?
A) A place where you write checks
B) Money kept for everyday expenses
C) An account where you keep all of your government documents
D) An account where you can check grades
Money kept for everyday expenses.
What is a good strategy to save more money?
A) Open a savings account
B) Sell items online
C) Cook at home
D) All of the above
D) All of the above
Is it mandatory or voluntary to pay the federal income tax and state income tax?
Mandatory
What does FIT stand for?
A) Fun initiative technology
B) First initial techn
Federal Income Tax
What is a check?
A) A list of grocery items
B)
A printed form that you write an amount of money on and indicate who it is being paid to.
Why is it important to make a budget?
A budget helps plan your spending.
How old do you have to be to open a savings account?
A) 21
B) 17
C) 16
D) 18
D) 18
Name another mandatory withholding besides taxes.
Medicare
Social Security
What does PTO stand for?
Personal paid time off
What is a personal loan?
A loan that an employee can take out with a bank for a home, car, or other reason.
Fixed and flexible (variable) expenses.
Having a budget gives you more money.
True
False
False
What is the most common type of tax?
Property tax
Contract pay (or your salary)