Going directly to a car dealer for a loan to keep things simple is a...
  • Federal income tax, Contributions to retirement savings, FICA
  • Charitable donations, entertainment expenses, and financial goals
  • Not great because they typically offer higher interest rates
  • Notebook and pencil, Online software app, Envelope method
A financial institution may offer for you to pay a little now and pay the rest after your next pay day if you are behind on loan payments (T/F)
  • True
  • False
If you pay your credit card balance in full each month, it will increase your credit score (T/F)
  • True
  • False
Check cashing companies typically charge low fees (T/F)
  • True
  • False
What should you consider when setting a budget
  • Manage your debt wisely
  • When you need a loan, you'll have more loan offers to pick from
  • Needs and wants
  • Expenses
Benefits available from your employer
  • Healthcare, paid time off, disability insurance, and matching contributions to a retirement account
  • Helps keep track of money you receive, helps to prioritize your spending, helps reach short- and long-term financial goals
  • When you need a loan, you'll have more loan offers to pick from
  • The amount of money you're paid, after all taxes and deductions are taken out of your paycheck is
Unexpected expenses should be planned for (T/F)
  • True
  • False
There is no relationship between the level of education received and lifetime earnings (T/F)
  • True
  • False
Access to investment advice is a common feature of a financial institution (T/F)
  • True
  • False
If you are behind on loan payments, a realistic option is for you can ask to get out of your loan (T/F)
  • True
  • False
Net Pay
  • The amount of money you're paid, after all taxes and deductions are taken out of your paycheck is
  • Helps keep track of money you receive, helps to prioritize your spending, helps reach short- and long-term financial goals
  • Tells your employer how much federal income tax to withhold from your paychecks to send to the IRS
  • Healthcare, paid time off, disability insurance, and matching contributions to a retirement account
Things to consider when creating a budget
  • Not great because they typically offer higher interest rates
  • A flexible market that allows you to work short-term, independent jobs
  • Charitable donations, entertainment expenses, and financial goals
  • When you need a loan, you'll have more loan offers to pick from
What do you need in order to fill out your 1040
  • Charitable donations, entertainment expenses, and financial goals
  • Needs and wants
  • When you need a loan, you'll have more loan offers to pick from
  • W-2, Your routing and bank number, A record of any other supplemental income
W-2
  • A document your employer sends you that tells you how much you've made and how much you've paid in taxes in the last year
  • Tells your employer how much federal income tax to withhold from your paychecks to send to the IRS
  • Helps keep track of money you receive, helps to prioritize your spending, helps reach short- and long-term financial goals
  • The amount of money you're paid, after all taxes and deductions are taken out of your paycheck is
Using a loan could help you purchase a house (T/F)
  • True
  • False
Benefits of using a budget
  • Healthcare, paid time off, disability insurance, and matching contributions to a retirement account
  • Helps keep track of money you receive, helps to prioritize your spending, helps reach short- and long-term financial goals
  • Helps you prepare for unexpected expenses
  • Charitable donations, entertainment expenses, and financial goals
Rounding up your expense estimates to add a buffer with help ensure you don't go over your budget (T/F)
  • True
  • False
W-4
  • Tells your employer how much federal income tax to withhold from your paychecks to send to the IRS
  • The amount of money you're paid, after all taxes and deductions are taken out of your paycheck is
  • Helps keep track of money you receive, helps to prioritize your spending, helps reach short- and long-term financial goals
  • A document your employer sends you that tells you how much you've made and how much you've paid in taxes in the last year
Bank statements, credit statements, and records of cash expenses help you to estimate your __.
  • False
  • Expenses
  • True
  • Needs and wants
Emergency Fund
  • Helps you prepare for unexpected expenses
  • A flexible market that allows you to work short-term, independent jobs
  • Helps keep track of money you receive, helps to prioritize your spending, helps reach short- and long-term financial goals
  • When you need a loan, you'll have more loan offers to pick from
Gig Economy
  • Charitable donations, entertainment expenses, and financial goals
  • Not great because they typically offer higher interest rates
  • A flexible market that allows you to work short-term, independent jobs
  • The amount of money you're paid, after all taxes and deductions are taken out of your paycheck is
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