Careers
What is a GED?
It is the equivalent of a high school diploma.
When is tax day?
April 15th
What is a savings account?
An account designed to help individuals save money over time, offering interest on the deposited amount.
Explain needs vs. wants.
Needs are expenses that you cannot live without.
Wants are expenses that you simply desire.
What is another name for Chinese New Year?
Lunar New Year or Spring Festival
What is an I-9 form?
It is used to prove you can legally work in the US.
What is a W-2 form?
A form that an employer must send to an employee and the IRS at the end of the year to report the employee's annual wages and taxes withheld from their paycheck.
What is interest?
the cost of borrowing money or the return on investment
What is the 50/20/30 budget strategy?
2024's Chinese New Year is the year of which creature?
List 3 benefits of joining the military.
List 3 things federal income taxes are spent on.
Military, education, construction, maintenance, etc.
What is the FDIC?
They insure peoples' deposits in banks.
(Federal Deposit Insurance Corporation)
List three examples of fixed expenses.
Answers may vary.
What gift is commonly exchanged on this holiday?
Red envelopes, often filled with money
What is an apprenticeship vs. trade school?
Apprenticeships allow you to learn a trade while working and making money for it.
Trade school teaches you a trade in a classroom setting.
What is the purpose of filing a tax return?
To ensure the amount of federal taxes you have paid from your paychecks is the same as the amount you owed, not more or less.
Fill out a check for the following situation: The date is May 13th, 2026. You just bought your first car. You want to write a check for the down payment. You need to pay $2,070.72 to the Glebas Car Emporium where you bought the car.
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List 4 costs associated with owning a car.
Car payment, gas, insurance, registration, maintenance, repairs, etc.
How many days does this celebration last?
15 days
What are the 4 levels of college degrees in order?
Associates, Bachelors, Masters, Doctorate
What does FICA stand for and what two main areas do these taxes go to?
Federal Insurance Contributions Act has tax money go to Social Security and Medicare
Explain the difference between simple interest and compound interest.
Simple interest is money you earn on an initial amount of money over time. It's calculated as a percentage of the principal, and it doesn't change over time.
Compound Interest is like a snowball effect where you earn interest not only on the initial amount (principal) but also on the interest that has already been added. It grows faster over time.
What percent of your income should go towards rent?
25-30%
What household activity is traditionally done before the Chinese New Year to remove bad luck?
Sweeping the house