Income, Taxes, & Forms
This is the money a worker “takes home” after taxes and deductions.
What is net pay
You must show this document when opening a bank account.
What is government-issued identification?
This is the card that describes the credit card interest rate on a yearly basis.
What is APR?
This card removes funds immediately from a checking account when making purchases.
What is a debit card?
This insurance pays for doctor visits and hospital stays.
What is health insurance
This form tells employers how much tax to withhold from your paycheck when you start a job.
What is a W-4?
This fee is charged when you spend more money than you have in your account.
What is an overdraft fee?
Using simple interest, the interest earned on $150 at 6% for one year.
What is $9?
This type of loan is NOT an installment loan:
Credit card, car loan, mortgage, student loan.
What is a credit card?
This payment is made monthly, quarterly, or yearly to keep insurance active.
What is a premium?
This form is sent at the end of the year showing how much you earned and how much tax was taken out.
What is a W-2?
This type of bank account is insured by the FDIC or NCUA and limits withdrawals monthly.
What is a money market account?
A certificate of deposit differs from a savings account because it must stay untouched for a fixed period.
What is a CD?
These lenders charge extremely high interest rates and can trap borrowers in debt.
What are payday lenders?
This insurance provides income to people who can’t work due to injury or illness
What is disability insurance?
This is the total amount earned before taxes and deductions.
What is gross pay?
A bank or credit union is an example of this type of financial institution.
What is a banking institution?
This rule estimates how long it takes money to double with compound interest.
What is the Rule of 72?
This type of mortgage helps people with low credit scores or little down payment become first-time homebuyers.
What is a government-insured loan?
This policy covers liability costs beyond what other insurance covers.
What is an umbrella policy?
This form verifies your identity and eligibility to work in the U.S.
What is an I-9?
If several unfamiliar charges appear on your bank statement, you are likely a victim of this.
What is identity theft?
This low-risk investment loans money to a government or company in exchange for interest.
What are bonds?
When one party does not do what a contract requires, they have committed this.
What is a breach?
This insurance helps pay for stays in nursing homes.
What is long-term care insurance