Knowledgeable and smart about handling savings and finances. 

They also set goals, buy wisely, make wise decisions, and live within income.

What are three main categories of a personal balance sheet?

Assets, Liabilities, and Net Worth.

What do cashflows represent?

Expenditures or the amount of money you’re willing to spend on food, clothes transportation, etc.

List the 7 steps in preparing a tax return.

·         Determine gross income

·         Calculate adjusted gross income

·         Subtract deductions

·         Determine exemptions

·         Compute taxable income

·         Calculate tax owed

·         Make tax payments or ask for a refund or credit

What is the purpose of a budget?

To help make your personal finance goals with wise spending and saving. It helps you live within your income, avoid credit problems and plan for financial emergencies.

What are the 4 main categories of taxes?

1.       Taxes on Earnings

2.       Taxes on Purchases

3.       Taxes on Wealth 

4.       Taxes on Property

What 5 characteristics of an effective budget?

1.            Realistic

2.            Flexible

3.            Evaluated regularly

4.            Well planned and clearly communicated

5.            Simple format dy> 

2.       What are three main categories of a personal balance sheet?

Assets, Liabilities, Net worth

3.       What do cashflows represent?

Reports net wages and other income along with spending for a period, such as a month.

4.       List the 7 steps in preparing a tax return.

•             Determine Gross Income

•             Calculate Adjusted Gross

•             Subtract Deductions

•             Determine Exemptions

•             Compute Taxable Income

•             Taxes Owed

•             Make Tax Payments or Ask for a Refund or Credit

5.       What is the purpose of a budget?

Allows you to meet your personal goals with a system of saving and wise spending. It will help you-  

-Live within your income

-Make wise buying decisions 

-Avoid credit problems

-Plan for financial emergencies

-Develop money management skills

-Achieve your financial goals

6.       What are the 4 main categories of taxes?

Taxes on purchases, Taxes on property, Taxes on wealth, Taxes on earnings 

7.       What 5 characteristics of an effective budget?

-Must be realistic 

-Should be flexible 

-Should be evaluated regularly 

-Must be well planned and clearly communicated

-Should have a simple format

 

                        Save,tax,money management,assets,liabilities,net worth,cash outflows. �

 

What are three main categories of a personal balance sheet? 

Assets - something useful or valuable

Liabilities – something or someone we owe 

  

 

What do cash flows represent? Reports net wages and other income along with spending for a period, such as a month. 

 

List the 7 steps in preparing a tax return. Determine gross income, calculate adjusted gross, subtract deductions, determine exemptions, compute taxable income, taxes owed, male tax payments

 

 

What is the purpose of a budget? Allows you to meet your personal goals with a system of saving and wise spending. It will help you 

Live within your income

Make wise buying decisions

Avoid credit problems

Plan for financial emergencies

Develop money management skills 

Achieve your financial goals

 

What are the 4 main categories of taxes? Taxes on purchases, taxes on property, taxes on wealth, taxes on earnings

 

What 5 characteristics of an effective budget? 

Must be realistic 

Should be flexible, should be evaluated regularly 

1.What are some characteristics of a wise money manager?

·         Set goals

·         Make wise decisions

·         Buy wisely

·         Live within their income

2.What are three main categories of a personal balance sheet?

·         Assets

·         Liabilities

·         Net Worth

3.What do cashflows represent?

·         Cash inflows 

·         Cash outflows

·         Compare inflows and outflows

4.List the 7 steps in preparing a tax return.

·         Step 1   Determine gross income 

·         Step 2   Calculate adjusted gross income

·         Step 3   Subtract deductions

·         Step 4   Determine exemptions

·         Step 5   Compute taxable income

·         Step 6   Taxes owed

·         Step 7   Make tax payments or ask for a refund or credit

5.What is the purpose of a budget?

·         The main purposes of a budget are to help you live within your income, achieve financial goals, buy wisely, avoid credit problems, plan for financial emergencies, and develop good money management skills

6.What are the 4 main categories of taxes?

·         Filing status

·         Tax forms

·         Avoiding common filing errors

·         Filing taxes online

7.What 5 characteristics of an effective budget?

·         Home ownership

·         Tax-exempt investments

·         Tax-deferred investments 7B%22t%22:�G]����

 

What are three main categories of a personal balance sheet?       Assets and net worth, savings 

 

What do cash flows represent?          Reports , net wages and other income along with spending for a period.
 
 

List the 7 steps in preparing a tax return. 

Step1: Determine 

Step2: calculate adjusted gross income

Step3: subtract deductions 

Step4: Determine exemptions 

Step5: compute taxable income

Step6: calculate tax owed 

Step7: make tax payments or ask for a refund or credit.

 

What is the purpose of a budget?    To save money so you can use later on in the future when you need it.

 

 
 What are some characteristics of a wise money manager?

Set goals, make wise decisions, buy wisely, and they live within their income.
 
 What are three main categories of a personal balance sheet?

Asset, liabilities, and net worth.
 
 What do cash flows represent?

They report net wages and other income along with spending, for a period such as for a month.
 
 List the 7 steps in preparing a tax return.

Determine gross income, calculate adjusted gross income, subtract deductions, determine exemptions, compute taxable income, calculate tax owed, make tax payments or ask for a refund or credit.
 
 What is the purpose of a budget?

Allows you to meet your personal goals with a system of saving and wise spending.
 
 What are the 4 main categories of taxes?
 Taxes on purchases, taxes on property, taxes on wealth, and taxes on earnings.

 What 5 characteristics of an effective budget?

 

 

Must be realistic, should be flexible, should be evaluated regularly, must be well planned, and should have a simple format. 

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 What are three main categories of a personal balance sheet?
 
 

 What do cashflows represent? 

Reports, net wages, incomes. 
 
 

 List the 7 steps in preparing a tax return.
 
 

·          

 What is the purpose of a budget?
 
 

 What are the 4 main categories of taxes?

·         Filing status

·         Tax forms

·         Avoiding common filing errors

·         Filing taxes online
 
 What 5 characteristics of an effective budget? 

·         Home ownership

·         Tax-exempt investment

·         Tax-defered investments

 What are three main categories of a personal balance sheet?
 
 What do cashflows represent?
 
 List the 7 steps in preparing a taxre

 What is the purpose of a budget?
 
 What are the 4 main categories of taxes?
 Taxes on purchases

Taxes on property

Taxes on earnings

Taxes on wealth

 

 What 5 characteristics of an effective budget?

Make wise buying decisions, Avoid credit problems, Plan for financial emergencies, Develop money management skills, Achieve your financial goals. aX3/0Xsd4J�!�2�