Basics Beginner: Making the Most of Your Paycheck

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1.
To pay yourself first means to _______.
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Set aside money right away out of your paycheck. The idea is that your savings come first.
2.
Some states do not levy income taxes.
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True. There are some states that do not.
3.
When you choose direct deposit, your paycheck is _______.
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Electronically deposited to your bank account. When you choose direct deposit, your paycheck is deposited directly to your bank account.
4.
What type of earnings are paid on credit union savings accounts?
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Dividends. While banks pay interest, credit unions pay dividends.
5.
A flexible spending account allows you to save money on a(n) _______ basis to pay certain types of bills.
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Pre-tax. A flexible spending account allows you to pay certain expenses on a pre-tax basis.
6.
If you have a short-term financial emergency, what is a relatively low-cost way to obtain a loan?
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Emergency credit union loan. Many credit unions offer relatively low-interest short-term loans that can help tide you over a short-term financial emergency.