Money | Good Financial Choices | Cards and Money | Retirement Accounts | Taxes |
---|---|---|---|---|
_____ can be exchanged for goods and services / is a medium of exchange
money
|
A _______ is an estimate of income and expenses, or your spending and savings plan based on your income and expenses
budget
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A method of payment other than cash (get now, buy later) is called a _______ card
credit
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A _________ account is for saving money when you eventually stop working
retirement
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A ___ is a mandatory pay to the government, whether it be local, state, or federal
tax
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The currency that the U.S. uses is called the ___ currency (no periods)
US
|
Expenses that do not change each month
fixed expenses
|
Specific card that has Dollar balance is a ____ card
gift
|
What is an IRA?
Individual Retirement Account
|
The federal and state tax on money that you earn is called the _______ ___
income tax
|
The ______ _______ distributes money
Federal Reserve
|
Expenses that change each month
variable expenses
|
A card connected directly to checking of saving accounts is called a _____ card
debit
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An account in where you are saving on your own is called a ________ individual savings account
special
|
The money taxed for retirement is called _____ _______
social security
|
The __ _______ prints the money (no periods)
US Treasury
|
When you give up a particular benefit to get something you find more desirable
you are making a _______
trade-off
|
A card issued allowing the holder to purchase goods or services on credit is called a _____ card
credit
|
What is the amount the tax is deferred to a year ?
$5500
|
The Federal health insurance program for people over 65
medicare
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People who put their faith/trust into legal tender made by the government is called a ____ currency
fiat
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The loss of a potential gain is called the __________
opportunity cost
|
What is an EFT ?
Electronic Funds Transfer
|
Before what age can you get a Tax penalty if withdrawn? (fraction required to get right answer)
59 1/2
|
What is the act that requires an employee to be taxed as well as an employer's contribution to fund social security and medicare?
FICA
|