Money Good Financial Choices Cards and Money Retirement Accounts Taxes
100
_____ can be exchanged for goods and services / is a medium of exchange
money
100
A _______ is an estimate of income and expenses, or your spending and savings plan based on your income and expenses
budget
100
A method of payment other than cash (get now, buy later) is called a _______ card
credit
100
A _________ account is for saving money when you eventually stop working
retirement
100
A ___ is a mandatory pay to the government, whether it be local, state, or federal
tax
200
The currency that the U.S. uses is called the ___ currency (no periods)
US
200
Expenses that do not change each month
fixed expenses
200
Specific card that has Dollar balance is a ____ card
gift
200
What is an IRA?
Individual Retirement Account
200
The federal and state tax on money that you earn is called the _______ ___
income tax
300
The ______ _______ distributes money
Federal Reserve
300
Expenses that change each month
variable expenses
300
A card connected directly to checking of saving accounts is called a _____ card
debit
300
An account in where you are saving on your own is called a ________ individual savings account
special
300
The money taxed for retirement is called _____ _______
social security
400
The __ _______ prints the money (no periods)
US Treasury
400
When you give up a particular benefit to get something you find more desirable
you are making a _______
trade-off
400
A card issued allowing the holder to purchase goods or services on credit is called a _____ card
credit
400
What is the amount the tax is deferred to a year ?
$5500
400
The Federal health insurance program for people over 65
medicare
500
People who put their faith/trust into legal tender made by the government is called a ____ currency
fiat
500
The loss of a potential gain is called the __________
opportunity cost
500
What is an EFT ?
Electronic Funds Transfer
500
Before what age can you get a Tax penalty if withdrawn? (fraction required to get right answer)
59 1/2
500
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






Here Comes the Money (What is Money?)

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