Vocabulary
The things you do well, your mental competence, and skills you need to do something.
What is your abilities?
PYF
What is Pay Yourself First?
The three main types of taxes.
What are income, sales, and property?
An example of a financial institution
What is a bank?
8.375% as a decimal.
What is 0.08375?
Career planning is done
What is throughout a lifetime?
The total amount of earnings made over a one-year period after all deductions have been taken.
What is net annual income?
Mandatory payments to a government
What are taxes?
When budgeting, the first categories to consider are those that meet your...
What is needs?
Total cost of a $1000 laptop with a sales tax of 8.375%.
What is $1,083.75?
A record of income and expenditures for a given period of time
What is a budget?
The total amount of earnings made over a one-month period before all deductions have been taken.
What is gross monthly income?
These has the primary purpose of offering retirement income, disability benefits, and healthcare coverage primarily for older adults and certain disabled individuals.
What is Social Security and Medicare?
Lenders use these to determine whether an applicant has any outstanding debts or defaults, credit score, and credit history.
What is credit agencies?
Federal Income Tax + State Income Tax + FICA + Other Deductions = _________
What is Total Deductions?
A grouping of jobs and industries related by skills or products.
What is career cluster?
The amount of earnings made over one month, after deductions.
What is net monthly income?
True or false.
Sales tax is a federal flat-rate tax imposed on the sale of goods and services across all states in the United States.
What is false?
True or false.
The take-home pay can be used for living expenses, savings, and other financial obligations.
What is true?
Carlos has a Gross Monthly Income of $5,000 and pays the following monthly expenses as a percentage of his gross income:
Federal income tax: 22%, State income tax: 0%, Social Security: $310, Medicare: $72.50, Health insurance premium: $200, Retirement savings contribution: $300
Net Monthly Income is....
What is $3,017.50?
Protection against risk is the primary reason people purchase this type of policy. Give examples.
What is insurance? Ex. home, auto, and health
The total amount of earnings made over a one-year period before all deductions have been taken is _____
What is gross annual income?
This kind of state has a 0% state income tax but may still face higher sales or property taxes to compensate for the state's revenue needs.
What is a no-income-tax state?
Match: Original Price, Tax Rate, 1 in the Formula, (1 + Tax Rate), Total Price
Total Price=Original Price×(1+Tax Rate)
[1] The price of the item before any sales tax is added.
[2] The percentage of sales tax to be applied to the original price, converted to decimal form.
[3] Represents 100% of the original price, used to calculate the total including the additional tax.
[4] Represents the entire portion of the price, including both the original price and the sales tax as a combined factor.
[5] The amount the customer pays after including the sales tax.
[1] Original Price, [2] Tax Rate, [3] 1 in the Formula, [4] (1 + Tax Rate), [5] Total Price
The total sales tax in Las Vegas is 8.375%.
Nevada typically requires sales tax to be applied to the total sales price, including delivery charges if the sale of the item being delivered is taxable.
Imani is buying a laptop for $1,000 online with a 20% off discount. She wants it to deliver to her home in Las Vegas for a delivery fee of $30.45.
What is $900?