Personal Financial Literacy

Expenses that change from month to month are called:

• fixed expenses (bills, loans, etc)
• variable expenses (emergency costs, vacations, car repairs, etc)
• stable pricing
• irrational pricing

When you own a house, what type of tax do you pay on it?

• income tax
• sales tax
• property tax
• payroll tax

What is the current amount of money in your bank account called?

• balance
• debt
• withdrawl
• payment

Tags

CCSS.6.NS.C.5

What is money borrowed that must be repaid, usually with interest?

• loan
• check
• checking account
• savings account

Tags

CCSS.7.RP.A.3

A plan for using money is called a ___________

• loan

• savings

• income

• budget

The money you earn or receive is called

• expenses

• donations

• income

• savings

What are some of the different ways to pay for things? (Select all of the correct answers. There is more than one!)

• Cash

• Debit

• Credit

• Check

the total amount of personal income before taxes and deductions 

• Net Income
• Gross Income

Tags

CCSS.7.RP.A.3

Tax the boss takes out of your check for social security and medicare

• Property Tax
• Income Tax
• Sales Tax
• Payroll tax

Tags

CCSS.6.RP.A.3D

Tax on the value of a house, building or land

• Sales Tax

• Property Tax

• Income Tax

• Payroll Tax