Lesson 1 section 2
1. What is renting? Renting is when you pay to use something that belongs to another person.
2. What is financial planning? Financial planning is a way of organizing your finances so you’ll be able to set and meet financial goals, while making sure you have enough money to spend on things you need.
3. What is income? Income is money that you earn or receive.
4. What is a projection A projection is a guess or estimate about something will be like in the future.
5. What is a will? A will is a legal document that states what you want to have happen to your finances after your death.
Lesson 2 section 2
1. What is tax? Tax is a financial obligation.
2. What is the Internal Revenue Service? The Internal Revenue Service is a government agency in charge of administrating federal taxes.
3. What is capital gain taxes? Capital gain tax is a tax that applies to investments and other personal property.
4. Give at least two examples of types of state taxes. Taxes that are pained to schools or individual and businesses.
5. What is a pay stub? Every time a company pays you, you’ll receive a short summary of the amount of your gross pay, and the amount of payroll withholding for the pay period.
Lesson 3 section 2
1. What is a financial responsibility? A financial responsibility is a value shared by many people.
2. Give at least two examples of utilities. Heat and water.
3. What are features? Features are notable qualities or characteristics of a product.
4. What are benefits? Benefits are the ways product will improve your life by solving a problem or by making you feel good.
5. What is a budget? A budget is a financial plan that shows what you plan to do with your money.