W!SE Test Prep for Money & Money Management

Investments such as CDs and savings accounts are __________

FIAT currency is money the U.S. Government has declared as legal __________

What figures do you need when using the Rule of 72?

You are a young adult with several $1000 to invest.  Before you do that, you should have a __  

Important documents should be placed in a safety deposit box, in particular  ____________ 

Windfall income (e.g., lottery winnings/game show prizes) is considered to be interest income &

When lumped together, Social Security & Medicare taxes are known as ...

The rule that helps you estimate how long it will take to double your money is the _____

The _________ means a dollar TODAY is worth more than a dollar in the FUTURE

The ______ is the organization that greatly influences when interest rates rise and fall

A government program that provides income to the elderly is called __________

Money that you have left over after you have paid your monthly bills is called ________ income

The________ form summarizes how much money you earned & paid in taxes for the previous year

When you have more money coming in than you have going out, you have a budget _________

Selling something for a profit will increase your __________

The continual increase in the price of goods and services is called ...

If you decrease what you owe your creditors, you will increase your _______

Brand named items cost more than generic/store brand items in order to ___________

What does the FED do to encourage more spending and borrowing by consumers? 

Because coins & currency are an acceptable form of payment for goods/services, they are called

A government program that provides health insurance to the elderly is called __________

The "FED" uses rules called ______ to regulate the $$ supply that is in circulation in the U.S.

The_____ form tells your employer how much tax to withhold from your paycheck 

It's a good idea to know your ___________ before you make major financial decisions

As long as you make car/mortgage payments in full/on time, the bank can't take them from you

Inflation hurts _________________ the most, as well as savers.

Since gift cards can decrease in value or even expire, check with the merchant about the rules

________ is the government agency that produces PAPER MONEY (i.e., bills). 

Because gift cards could _______ in value, it is best to ask the merchant about gift card rules

Coins come in denominations of _________  (Your answer must be COMPLETELY correct.)

________ is the government agency that produces COINS (i.e., penny, nickel, dime)

People who go to college can earn up to 4 times the $$ than those who do not finish high school

A government program that provides health insurance to people with low income is called _______

You should write a _______ if you own something of value

Interest that is earned on investments is usually  __________

The main BACKGROUND COLOR of paper money is __________

When you spend more money than you earn, you have a budget _________

Checking accounts NEVER pay interest.

You should keep _________ of emergency savings in case you have an unexpected financial crisis

The organization that collects Federal taxes and enforces tax rules is the _______

More $$ was spent for entertainment than you budgeted.  What do you do to balance your budget?

The amount of $$ that you earn BEFORE taxes & other deductions have been subtracted is called 

To pay yourself _____ is to take $ from your paycheck & put it in savings BEFORE you spend it 

The amount of $$ that you earn AFTER taxes & other deductions have been subtracted is called 

You need to know the___________ to determine the time value of money

Bank deposits of $10,000 or more must be reported to 

The most common forms of legal tender are _________

New coins and currency enter the economy through the distribution system of the FED

You budgeted $200 for clothes this month and you only spent $150 results in a