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Personal Finance
Mr. Hilton
| Question | Answer |
|---|---|
| Required charges by the local state and government | Taxes |
| 1st step of the decision making process | Find the problem |
| 2nd step of the decision making process | List the alternatives and their pros and cons |
| 3rd step of the decision making process | Describe the solution |
| 4th step of the decision making process | Evaluate the results |
| A_____ is something that would mean a lot to that person or has good value | Value |
| A____ is something you must have for survival | Need |
| A____ is something you don't need for survival | Want |
| A____ is a deposit directly deposited into your account | Direct Deposit |
| A____ is a form that provides gross income withheld for taxes | W-4 |
| A____ is a form for filing taxes | W-2 |
| The process of self investment. | Human capital |
| Skills that are learned and used for other uses and careers | Transferable Skills |
| The trade for one thing for another. | Barter |
| A___ money given to an employee for a completed job. | Paycheck |
| A_____ is a nonelectrical device use for carrying money. | Payroll Card |
| A_____ is a form used for knowing the states wages and taxes | I-9 |
| A cluster of related jobs requiring the same skills. | Career |
| Well-being is the state of being_____,______,and _______. | Healthy, happy, wealthy |
| The S in Smart goals is _____ | Specific |
| The M in Smart goals is ____ | Measuarable |
| The A in Smart goals is ____ | Attainable |
| The R in Smart goals is ____ | Realistic |
| The T in Smart goals is ____ | Time-Bound |
| A ____ is the length of time for which an employees wages are calculated | Pay Period |
| A____ is a goal that can be completed in a one year period | Short term goal |
| A_____ is a goal that can be completed in over a one year period | Long term goal |
| A education goal is a goal that helps with your____ and ____ | Education and Workplace |
| A financial goal is a goal that helps with your _____ and ____ | money and financing |
| What does the S in SMART goals stand for | Specific:state what needs to be done |
| What does the M in SMART goals stand for | Measurable: how the goal can be measured |
| What does the A in SMART goals stand for | Attainable: what steps need to be taken to complete the goal |
| What does the R in SMART goals stand for | Realistic: don't set unrealistic goals |
| What does the T in SMART goals stand for | Time-Bound: when your goal will be completed |
| A____ is something someone intends to complete | Goal |
| A____ is a specific task done as a part of ones routine | Job |
| A_____ is a wide category of jobs | Occupation |
| A career is influenced by ( get two right) | Family, money, business, well-being |
| What does a | |
| Social Security is for____and_____ | Elderly and disabled |
| Medicare is healthcare for_____and_____ | Elderly and disabled |
| FICA stands for | Insurance Contribution Act |
| Net income is | Total income after all deductions |
| Gross income is | Total deductions from net income |
| Withholding tax is | the amount required from tax by tax |
| Payroll Withholding is | Amount of money subtracted from taxes |
| Your personal info is your | Full name, address, and social security number, or identification number |
| Your year-to-date is | All money that have been withheld from an individuals paycheck from Jan 1st to the last day of the pay period |
| You can become worth more by | Investigating in your human capital |
| A decision is | A choice of things that affect a persons life. |
| A routing decision is | Made on a day to day basis and do not require much thought or time. |
| A major decision is | A long term effects on a persons life. |
| A financial decision | Impacts an individual's well being. |
| If you put a 0 on your form the government takes out the | Most money |
| A W-4 form determines | Taxes |
| A form I-9 does what | Identifies people |
| What is a W-4 form also known as | Employees Withholding Allowance Certificate |
| Form W-2 is used to file taxes by what date | April 15th |
| Net Income is also referred to as | Home pay |
| What should you always check on a form | The correct name |
| What percent does government take from your paycheck | 30% |
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