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Budget Simulation : Finance Refresher
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Credit Card 101
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#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
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#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 _____.
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#3 Late Payment Warning States any additional _____ & _______ _________ rate that may be _______ if your payment is_________.
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#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.
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#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.
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#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.
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#7 Transactions A list of all __________ that have occurred since your last statement ___________
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#8 Fees & Interest Charges
Fees & ________ charges must be listed ________ on your monthly bill. Interest charges must be listed by type of _____________.
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#9 Year-to-Date Totals The total that you have paid in _______ and ______________ charges for the current year.
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#10 Interest Charge Calculation
_________ of interest rates on different types of transactions, _____________ ___________, the amount of _________, and the interest charges for each type of transaction.
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What’s in a [pay] stub?
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Section 1: Employer Information
This section contains your ______________________.
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Section 2: Employee Information
This section contains information about you. It includes: Your _______ Your ___________ ___________
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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 _______ ______#
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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
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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 ___________.
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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 _________________ ____________________ _______________
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Statements & Bills
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What is an invoice? A list of ______ sent or ___________ provided, with a _________ of the _____ due for these; also known as a ____.
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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
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Credits & Adjustments Credits & Adjustments are noted on each ____
They are often $0 Credits ________ your account balance
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(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
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