Internet banking, or _, allows you to
bank from anywhere you can access the internet at
any time. It allows you to do just about everything
that you can do at a branch of your bank but may
charge fees for certain trans
A form your bank sends you every month that lists all
activity in your account since your last statement,
including your checks that the bank has cleared
and recorded, automatic transfers, ATM
transactions, and depos
Consists of checks, currency (bills), or coins put
into a bank account.
A deposit electronically transferred from your
employers checking account to your
Automated Teller Machine (ATM):
A paycheck deduction that pays for retirement and disability
benefits (6.2% on the first $97,500 of income earned).
A paycheck deduction that provides medical insurance
(1.45% of all earned income).
Ex: Riley Hendersons gross bi
Federal Income Tax(FIT):
An amount withheld from your paycheck used to pay for
federal government agencies and services.
Tells an employer how much money to send to the IRS from
your paycheck. Employers use your income, marital sta
W EEKLY T IME C ARD
At some jobs, you are required to keep track of your
weekly 'me card
hours on a _. This is a daily record of
the $mes you punch in and punch out throughout
the day. You com
R enting a Vehicle
Rent (a vehicle):
To use a vehicle by agreeing to pay a set fee. Some companies charge
a daily rate plus a per-
mile rate, while others charge only the daily
rate. In either cas
Provides nancial protection to the policyholder against claims for
bodily injury and property damage as a result of an accident. The
combined coverage is ofte
A V E R A G E M O N T H LY E X P E N D I T U R E S
A way for you to manage your money. Involves
keeping track of your expenditures during a period
Items you spend money on, organized into
Consumer Math Quiz 9.1 Review
1. Janet Smith is shopping for a new sport utility vehicle. She wants one with an automatic
transmission, power steering, premium wheels, and a sunroof. What is the sti
P urchasing a New Vehicle
A sticker displayed on a new vehicles window that shows the price.
It includes the following three charges:
Sometimes referred to as the manufac
H OURLY R ATES A ND G ROSS P AY
A xed amount of money you are paid for each hour you
The total amount of money you earn for a pay period at the
Reconciling a Bank Statement:
Comparing the banks records of your transactions
to your check register to ensure that everything
You may 4ind some deposits or outstanding che
A tool you use to keep a record of the
deposits, electronic (automatic) transfers,
checks you have written, and any ATM
deposits/withdrawals you make to/from your
The amount of money in you
The Check Writing Process
The Check Writing Process
A bank account that you can write checks on.
A paper document directing a bank to
deduct money from your checking account
and make a payment.
Steps for Writing a Check:
USING A BUDGET
A report that compares the amounts that you have
spent in a month to the amounts that you have
Extra money set aside to be used for unpredictable
expenses, such as medical bills and vehicle
P R E PA R I N G A B U D G E T S H E E T
Expenses that do not change month to month,
such as rent or loan payments.
Expenses that do change month to month, such as
food and utility bills.
of money you have left after your employer
subtracts all of the paycheck deductions (also called net
income or take home pay).
Ex: Angela Moores gross weekly salary is $600.00. Each week she ha
Many businesses offer _ to their employees because it costs
less than individual plans. The business will often pay part of the insurance cost, or
_, and the employee pays the remaining amount.
Ex: Nadine McClure is a carpenter for
An amount of money paid for selling a product or
Either a specied amount of money paid for each sale or a
percentage of the total value of
O VERTIME P AY
Money you earn if you work more than 40 hours in a week.
Time and a Half:
The typical over$me rate. 1 $mes your regular hourly rate.
Another over$me r
L easing a Vehicle
An alternative to purchasing a vehicle where you make monthly
payments to the leasing company, the dealer, or the bank for 2 to 5
years. You do not own the vehicle but are
O perating and Maintaining a
Costs that increase as the number of miles driven increase. They
include the cost of gasoline, oil, lters, tir
P urchasing a Used Vehicle
Vehicle Guide: %
A buyers guide that gives the average prices for used vehicles. These
guides are published by the National Automobile Dealers Associ
D ealers Cost
The price the dealer actually pays for a vehicle, usually expressed as
percentages of the individual costs in the sticker price.
Example: The pickup truck sticker shows a bas