Unit 1: Personal Financial Planning
Items such as telephone, power,and food.
What are items you need around the house?
This is the amount of money earned during a pay period before deductions.
What is gross pay?
These are fees that the government requires people to pay in order to live and work in their state and the USA.
What are taxes?
This coin has a value of $0.05.
What is a nickel?
After you have opened your bills, you should record the _________ on a calendar to remember when they must be paid.
What is a due date?
Saving for 3 months to buy an iPhone is an example of this type of financial goal. ( Long term or short term)
What is a short term goal?
Pay for work beyond 40 hours in a work week.
What is overtime pay?
You must file your federal and state income taxes by this date in April.
What is the 15th?
You are a clerk at a video store. A customer buys a used video game for $14.50 and gives you $20. This is the amount of change returned to the customer.
What is $5.50?
The three main forms of cash are currency, checks, and using a ________.
What is debit card?
This is a basic account that allows someone to deposit and withdraw money, and in some cases receive a monthly statement with no service charge if they maintain a minimum balance. Items can be mailed to creditors as a form of payment using this type of account
What is a checking account?
A fixed amount of money paid to a worker for each item satisfactorily produced or assembled or each action satisfactorily completed.
What is a piece rate?
This form shows how much money you made and how much you paid in taxes from the previous year.
What is a W-2 form?
Names (2) ways you can protect yourself while cyber shopping?
- Use HTTPS secure web page to help prevent "hacking"
-Don't use public charging stations to charge your device
- Use a secure Wi-Fi not a public one
- Track and monitor purchases. Ensure packages aren't left on the front porch or at the door for an extended length of time
-Do your homework before shopping on a particular web page
This payment method that lets you buy now and make payments later.
What is a credit card?
A financial institution may provide you with this service to help you move money or pay bills electronically.
What is "On Line Banking"?
The amount of money left after all the deductions have been taken from the gross pay earned in the pay period.
What is net pay?
A person who relies on another person, usually a family member, for financial support.
What is a dependent?
This type of restaurant serves low-priced food in a very casual atmosphere with little to no table service.
What is fast food?
Using most or all of your available credit will make your credit score go ______.
What is down?
A plan for how you are going to spend your money.
What is a budget?
The federal program that assists older Americans with insurance and income. It is also used to help funds Medicare
What is FICA?
This agency is responsible for collecting federal income taxes for the US government.
What is the Internal Revenue Service (IRS)?
Mary has a 20% off coupon to use on a shirt that cost $10.00. This is the sale price of the shirt.
What is $8.00?
This method of bill payment is programmed to pay the same amount to your creditor each month on the same date.
What is an automatic draft?