Lifestyle Budgeting
Lessons

Setting up a Budget

Estimating Expenses

Recognizing Budget Problems

Cutting the Fat from your Budget

Calculating Your Housing Budget

Dealing with Debt

Staying Out of Debt

Coping with Taxes

Adapting Lifestyle to Paycheck

Assessment (continued)

6. Local wage tax cannot be higher than the state income tax.

Your answer, True, is not correct. Local wage tax can be, and often is, higher than the state income tax.

7. A 401K is a type of retirement plan.

Your answer, True, is correct. The 401K is a very popular type of retirement plan.

8. Health insurance costs are seldom deducted from your paycheck.

Your answer, False, is correct. When employees pay a portion of their health insurance at work, the insurance is deducted from their paycheck.

9. All states provide disability insurance for employees.

Your answer, False, is correct. Some states do not provide disability insurance for employees.

10. Your net pay is the actual amount you receive after all the deductions.

Your answer, True, is correct. The amount of your paycheck after all deductions is your net pay.

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