FINANCIAL LITERACY- Budgeting

Front

How do wages and salary differ?

Back

Salary is what you earn annually and wage is what you earn hourly.

Front

Which of the following may NOT always appear on your paycheck stub?
Amount of gross pay,
Amount of net pay,
Your social security number,
Tax being taken out

Back

Your social security number

Front

You need to have all of the following expenses before signing a lease EXCEPT for..... Renter's Insurance, Application fee, Deposit Money, Utilities fees

Back

Utilities fees

Front

ALL of the following are items you and a roommate need to figure out when living together EXCEPT for.... Utilities and rent, Groceries and household items, Streaming services

Back

Streaming services

Front

According to a rule of thumb, rent shouldn't take up more than ___ % of your take-home pay.

Back

25-30%

Front

Which of the following would typically be something you need to look at when grocery shopping: Unit price, Fine print on sales, Expiration date, Ingredients?

Back

All of the above

Front

Which of the following is a step you can take to mitigate the risk of buying a used car?
Options:
Get a vehicle history report and make sure your car is certified,
Have a friend look at your car,
Skip the test drive; you have time after you buy it to drive

Back

Get a vehicle history report and make sure your car is certified

Front

Which of the following is NOT a cost of owning a car? License and Registration fees, Gasoline, Utilities, Insurance

Back

Utilities

Front

Which of the following reasons would explain why Justin has decided to forgo owning a car? Public transportation does not exist, He lives near his job and there is not parking in his area. The area also have public transportation, He lives far away from his job

Back

He lives near his job and there is not parking in his area. The area also have public transportation

Front

About how much of your income should go towards transportation?

Back

15-20%.