Financial Literacy

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What is Sales Tax?

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Sales Tax is a tax imposed on the sale of goods and services, usually calculated as a percentage of the purchase price.

Tags

CCSS.6.RP.A.3B

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What is Net Income?

Back

Net Income is the amount of money a person takes home after all deductions, such as taxes and other withholdings, have been subtracted from their gross income.

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What are the advantages of using a debit card?

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Advantages of using a debit card include convenience, ease of carrying, quick transactions, and access to cash through ATMs.

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What is a Credit Card?

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A Credit Card is a payment card that allows consumers to borrow funds to pay for goods and services, with the agreement to pay back the borrowed amount later.

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What is a Budget?

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A Budget is a plan that outlines expected income and expenses over a specific period, helping individuals manage their finances.

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What does it mean to balance a budget?

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To balance a budget means ensuring that total income equals total expenses, preventing overspending.

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What is Gross Income?

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Gross Income is the total amount of money earned before any deductions, such as taxes or retirement contributions.

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What is the purpose of a paycheck?

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A paycheck is a document that an employer provides to an employee, detailing the amount of money earned for work performed.

Tags

CCSS.RI.4.3

CCSS.RI.4.5

CCSS.RI.5.3

CCSS.RI.5.5

CCSS.RI.6.3

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What is the difference between income and expenses?

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Income is the money received, while expenses are the costs incurred for goods and services.

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What is Identity Theft?

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Identity Theft is the act of stealing someone's personal information to commit fraud, often involving credit cards or bank accounts.