Borrowing Money
Not creating a budget is the fastest way to
Go Broke
Something I must have is something to ask when determining a
Need
What is the pay before deductions
Gross Pay
What percent is spent on Mandatory Spending
60%
What percentage of your budget goes towards wants?
30%
_________ are used to automatically draft from your checking account
Debit Card
Will my life change is a good question to ask when determining a
Need
What is the pay after deductions?
Net Pay
What percent is spent on Interest on Debt?
8%
What percentage of your budget goes towards savings?
20%
Family and Friends
Do my friends have this item is a good question when determining a
Want
If Stef works a part time job and she makes $12 an hour and works 7 hours what is her gross pay?
$84
What percent does discretionary spending go to?
30%
What does YTD mean on a paystub?
Year to Date
Not paying back money owed can ruin a long lasting ___________
Friendship
How happy will this make me is a good question to ask when determining a
Want
If Ryan's Gross pay is $450 and his net pay is $375 how much where the deductions
$75
Auto insurance is a part of which spending of government?
None
What percentage of your budget goes towards needs?
50%
____________ allows you to borrow money and pay it back
Credit Card
What must be met first when making a budget
Needs
Which pay should you use when creating a budget?
Net Pay
Who pays taxes?
Every person and company
How long is a pay period?
2 Weeks