Budget Simulation : Finance Refresher

Credit Card 101

#1 Summary of account activity A summary of the transactions on your account Shows you: ____________ Available ________ = _________- _______ __________ Last day of the _______ period ________ or ______ after this day will show up on your next bill

#2 Payment Information Your ______ new balance The __________ payment amount the ________ amount you should pay Date ____________ is _______ A payment generally is considered on _____ if received by __ p.m. on the day it is _____.

#3 Late Payment Warning States any additional _____ & _______ _________ rate that may be _______ if your payment is_________.

#4 Minimum Payment Warning An estimate of how long it can take to pay off your ______ card balance if you make only the ________ payment each month & an estimate of how much you likely will pay with interest to pay off your bill in ______ years without any ___________ charges.

#5 Notice of changes to interest rate If you trigger the __________ rate your credit card company may notify you that your _______ will be __________. The company must tell you at least ___ days before your rates change.

#6 Other changes to your account terms If your credit card company is going to _____ interest _____, _____ or make other significant changes to your account, it must _____ you at least ___ day before the changes take effect.

#7 Transactions A list of all __________ that have occurred since your last statement ___________

#8 Fees & Interest Charges Fees & ________ charges must be listed ________ on your monthly bill. Interest charges must be listed by type of _____________.

#9 Year-to-Date Totals The total that you have paid in _______ and ______________ charges for the current year.

#10 Interest Charge Calculation _________ of interest rates on different types of transactions, _____________ ___________, the amount of _________, and the interest charges for each type of transaction.

What’s in a [pay] stub?

Section 1: Employer Information This section contains your ______________________.

Section 2: Employee Information This section contains information about you. It includes: Your _______ Your ___________ ___________

Section 3: Employee’s Job Information This section contains information about your current job. It Includes: Dep’t paying your ______ Pay ______ for which you are receiving payment The pay _______ Your Employee __ # Your Job _____ Your _______ ______#

Section 4: Employee Tax Data This section details your current tax filing _____ for both _________ taxes & ______ taxes. It Includes: The ______ status you claimed on your W-_ The number of __________ you have claimed

Section 5: Employee Hours & Earnings This is a description of what you are being paid for, your pay ____ for the ______ pay period, and the amount you are receiving in ___________. If you are being paid hourly, the amount of _______ for which you are receiving pay is also listed in this section. There are 2 columns in this section: one for the ________period and one for the ___________.

Section 6: Employee Deductions This section describes each __________ that is withheld from your gross pay. There is a column for current pay period and year to date. These Include: These CAN Include: ______ Income Tax ______ _______Tax ________ Tax _______ Taxes _________________ ____________________ _______________

Statements & Bills

What is an invoice? A list of ______ sent or ___________ provided, with a _________ of the _____ due for these; also known as a ____.

Invoice/Bill Details Includes information such as: _________ account number ___________ number ___________ Date Date the bill was processed Statement ______ The period covered by the bill Bill _____ Date

Credits & Adjustments Credits & Adjustments are noted on each ____ They are often $0 Credits ________ your account balance

(Current Charges) - (Credits/Adjustments) = Total Amount Due How much do I owe? Your bill (or ________) will show current charges Credits/Adjustments will be _______ from current charges (Current Charges) - (Credits/Adjustments) = Total Amount Due