Different Payment Methods

Front

What is net income?

Back

Net income is the amount of money you earn after subtracting taxes and insurance from your gross income.

Front

What type of tax helps fund Medicare and social security?

Back

Payroll tax helps fund Medicare and social security.

Front

What is a credit card?

Back

A credit card is a small plastic card that allows you to borrow money from a bank to make purchases, promising to pay it back later.

Front

What is a disadvantage of using checks?

Back

Some stores do NOT accept checks, which can be a disadvantage.

Front

What is a PIN?

Back

A PIN (Personal Identification Number) is a secret code known only to the account owner and the bank.

Front

What is a debit card?

Back

A debit card is a plastic card that allows you to spend money directly from your bank account.

Front

What is gross income?

Back

Gross income is the total amount of money earned before any deductions like taxes and insurance.

Front

What is the advantage of using a credit card?

Back

An advantage of using a credit card is that it allows you to make purchases even if you don't have enough cash at the moment.

Front

What is a disadvantage of using a debit card?

Back

A disadvantage of using a debit card is that if someone gets your PIN, they can access your bank account.

Front

What is the purpose of property tax?

Back

Property tax is a tax based on the value of property, used to fund local services like schools and roads.