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Budget your Finances Flashcards | StudBud
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Budget your Finances
Budget your Finances
8 terms
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StudBud Administration
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9 plays
Financial Literacy Class of 2019
Flashcards
8 cards
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Practice quiz
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Questions
8
Answers
1
What is a Budget?
A plan to manage money
A limit on spending
Spending money
A source of income
2
What recommended % of income should go to savings?
15%
20% - 25%
100%
2%
3
What kind of deductions is on your pay-stubs ?
Medicare, Medicaid, savings, federal & state taxes
Social Security, Medicare, Medicaid, federal & rent taxes
Social Security, charity, Medicaid, federal & state taxes
Social Security, Medicare, Medicaid, federal & state taxes
4
What is Short Term growth for your money
Money in piggy bank (cash)
IRA/401 Retirement
Savings (2% Annually)
Stock Market (ETF/Mutual Fund)
5
What are Expenses
Money Spent from income
Money from savings
Earn from job
401k Contribution
6
What is the recommended amount for Emergency savings?
$2000
$500
$1000
$100
7
What is long term growth for your money
Cash under your bed
Stock Market (ETF/Mutual Fund)
IRA/401 Retirement
Savings (2% Annually)
8
What is Income
Free money from credit card
Money left over after expenses
Total money earned
Money spent
