Income and Money Management

What is the money people earn from working called?

• Income

• Expense

• Debt

• Savings

What are two ways to manage money mentioned in the article?

• Saving and investing

• Spending and borrowing

• Gambling and speculating

• Hoarding and wasting

According to the article, why do people save money?

• To buy luxury items

• For future security

• To pay off debts

• For immediate expenses

What is a stock according to the article?

• A piece of the ownership of a company.

• A type of bond issued by a company.

• A loan given to a company by an investor.

• A government-issued security.

What can be risky but good investments can earn money?

• An investment

• A savings account

• A checking account

• A fixed deposit

Underline the different wants and needs in the article.

• Identify the wants and needs in the article.

• List the wants and needs in the article.

• Underline the wants and needs in the article.

• Highlight the wants and needs in the article.

Match the following Tax Forms

• W-2

• • I am received in January

  • There is one of me for every job you work

  • You can tell how much you earned and how much you paid in taxes by reading me

• W-4

• • I am received whenever you start a job

  • You list information about yourself and your family on me

  • I determine how much money gets taken out of each paycheck

• 1099

• • I am completed every April

  • Form used to File your taxes

• I-9

• • I am received whenever you start a job

  • You use me to prove that you are eligible to work in the U.S.

  • You must provide forms of identification when submitting me

  • Used in Identify Verification

• 1040

• • I am received in January

  • You get me if you are not an employee but were paid by a company

  • You can also get me for other types of income, such as gains and losses in brokerage accounts, dividend and interest payments, and more

  • You probably didn’t get taxes withheld if you got me, so you may have a big tax bill coming up

The amount of money you make before taxes and deductions....

• Gross Pay

• Net Pay

This tax form is received when you start a new job. It determines how much money gets taken out of each paycheck.

• W-4

• W-2

• 1099

• 1040

Also known as your take home pay.

• Salary

• Gross pay

• Net pay

• Withholdings