Basics Beginner: Making the Most of Your Paycheck

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1.
What is one benefit of direct deposit?
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Your bank may offer you a small discount on a loan rate. One potential benefit of direct deposit is that your bank may offer you a small discount on a loan rate.
2.
As a general rule, larger financial institutions offer ______ services and options compared to smaller ones.
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More. Size generally enables an institution to offer more products and services.
3.
Some states do not levy income taxes.
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True. There are some states that do not.
4.
The concept of paying yourself first involves setting aside money from your paycheck _______.
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Before you pay your other expenses.
5.
The interest rates of payday loans are very high.
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True. The average payday loan has an average annual interest rate of 400 percent.
6.
What is one kind of expense that can be paid for with pretax dollars through special spending plans through your employer?
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Medical bills. If your employer offers a health savings account or healthcare flexible spending account, you can save for medical expenses with pre-tax dollars.