Understanding Work
The event which caused human work to become laborious
What is the Fall?
Cash awards directed to a student or their school to cover education-related expenses
What are scholarships?
A plan for managing money, dividing up expected income and expenses among spending and saving options based on personal goals during a given time period
What is a budget?
Taxes you pay on the goods you buy
What is Sales & Excise tax?
The portion of income God's people have offered to support ministry throughout the Old Testament
What is 10%?
The day of rest commanded in Scripture
What is the Sabbath?
Tax advantaged investment plans, helping to save for post-secondary education
What are 529 plans?
Gross income minus all voluntary and involuntary deductions
What is net income?
The tax theory which states that people should be taxed according to their pay, regardless of the benefits they receive
What is "Ability to Pay"?
The measure of income used to calculate one's tithe
What is gross income?
Skilled work which typically provides high pay and advancement opportunities
Part-time jobs made available to students who qualify for financial aid, which are funded by the federal government
What is work-study?
The federal government's health insurance plan for individuals 65 years old or older; payments for which are a standard deduction from paychecks
What is Medicare?
Taxes in which the proportion of income paid in taxes decreases as income increases (less from people in higher income groups)
What are regressive taxes?
Principle in Scripture which teaches us to offer God our first and best
What is the "First-fruits" principle?
The virtue describing careful and persistent effort towards work
What is diligence?
Cash awards directed to a student or their school to cover education-related expenses, awarded by the state/federal government based on financial need and GPA
What are grants?
No more than 30% of your gross income should be budgeted to pay for this
What is housing?
Taxes in which the proportion of income paid in taxes increases as income increases (more from people in higher income groups)
What are progressive taxes?
The worldview which sees all physical matter as an expression of the love of God and a means of connection with him
What is the spiritual worldview?
The key factors to consider when discerning which career to pursue
What are market demand, interest, and skills?
Also called FAFSA, this is the form students must complete in order to be eligible for financial aid
What is the Free Application for Federal Student Aid?
A fund of at least $1,000 to handle unexpected expenses; typically the first goal set when establishing a budget
What is an emergency fund?
The date taxes are due to the IRS each year
What is April 15th?
A Latin expression describing the nature of sin as a curving in on oneself
What is "incurvatus in se"?