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26 Cards in this Set
- Front
- Back
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how much money will most people make over the course of their life?
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1,000,000,000+ dollars
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How many hours do you spend in classroom over a lifetime?
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15, 000 hours
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What is one of the most important skills you need today?
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computers
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To succeed at earning money what kind of job should you have?
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one you enjoy
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During your average career how many hours do you work?
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86,000 hours
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Who is the uncle that takes your money away?
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Uncle Sam
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When Uncle Sam takes money out of your pay check what is that called?
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withholding payroll taxes
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The money that you actausl take home is called
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take home pay
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Name the 3 bukets that show up on you pay check
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federal Income tax
social security medicare |
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How much does Sam take?
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the more you earn the more he takes
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what would be the pecentages for part-time, full-time, people who make over $100,000
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part-time is about 10%
full-time is about 25% over $100,000 is about 30% |
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Bucket #1 Where does most of the tax money go to?
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military
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Bucket#2 Social Security
Whatat does FICA stand for |
Federal Insurance Contribution Act
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WHat age can you collect Social Security?
What age do they want to change it to? |
AGE 67
Age 72 |
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What is the maxium youcan collect from Social Security?
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$1,825 per month
the averge last year was $922 |
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Who funds medicare? What is Medicare?
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The government funds medicare
It is a health plan for elder people |
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By what day do you have to file for income tax?
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April 15th
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How much do you have to earn before you file?
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$4,750 per year
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What 3 thongs determine how you handle you money?
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How many years you will have to work before you will haveto retire?What kind of lifestyle you will have until will retire? How much money you will have after you retire?
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What are the 4 choice you have with your money when you earn it?
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spend it, save it, invest it, give it away
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How much do teens spend together each year?
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$17.5 billon
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What was commom about all the successful people that the author knew
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part-time jobs as teen-agers
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what is one of the most serious financial serious problems facing teen-agers today
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credit cards
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How does a credit card work?
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you charge soomething, that store, pays a percentage,then you get a bill,
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What should you always try to do with your credit card statement ?
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pay it off every month
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What happens if you don't pay your credit card statement off in full every month
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you are charge interest
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