Budgeting
You should never _____ more than you make.
What is spend?
One way someone can build credit.
What is paying on time on a credit card or a loan?
Two common ways of paying bills.
What is online and in the mail?
A mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities.
What is tax?
Common "needs" to consider when budgeting.
What is housing, utilities, car payment, insurance, groceries, healthcare?
One of the main goals of budgeting is to put money aside. This is called a _____.
What is savings?
What is a late fee?
The reason you should pay bills on time.
What is to avoid late fees and continue services.
In South Carolina, consumer good are taxed at __ percent.
What is 6 plus applicable local taxes?
True or false: creating and sticking to a budget can help reduce stress.
What is true?
What is a good percentage rule to follow when creating a budget? Hint: three categories are needs, wants, and savings
What is
50% income towards needs
30% income towards wants
20% income towards savings
The minimum amount you are expected to pay on debt.
What is a minimum payment?
The name of the total of your paycheck BEFORE deductions such as taxes and benefits.
What is gross pay?
In South Carolina, groceries are taxed at __ percent.
What is 0?
The average salary in South Carolina.
What is roughly $52,000/year?
What percent of Americans have less than $1,000 saved in case of an emergency?
What is about half?
Paying late on a monthly balance will result in ___________.
What is a late fee and hurt your credit score?
The name of the total of your paycheck AFTER deductions (aka what you get to take home).
Name at least two things that taxes go towards.
What is education, Social Security, Veterans benefits, infrastructure, national security?
Average cost of rent per month in South Carolina.
What is $1,800 per month?
What are the two most important factors to begin with when creating a budget?
What is income and expenses?
Building credit is important because _______.
What is
it shows lenders you are trustworthy of paying your bills on time. It can help you get loans for things such as a car or home.
Some bills automatically come out of your account every month, this is called _____.
What is automatic withdrawal?
Tax day (the last day to file annual taxes) is typically on ______.
What is April 15th?
Average cost of groceries for one person per month.
What is ~$350 per month (just under $100 per week)?