Dave Ramsey Chapter 1 Test Prep

Front

This is a person or organization that uses a product or service

Back

Consumer

Front

The knowledge and skill base for people to be informed consumers and manage their money effectively

Back

Financial Literacy

Front

All of the financial decisions an individual or family must make about their money

Back

Personal Finance

Front

The percentage of principal charged by the lender for the use of its money

Back

Interest Rate

Front

The additional $ Cost a lender charges for borrowing their money

Back

Interest

Front

Money owed to another person or company

Back

Debt

Front

The total wealth of a person/family taking into account all of their assets and liabilities

Back

Net Worth

Front

Anything that is owned by an individual or family, including money, investments, collectibles, autos, etc.

Back

Asset

Front

Financial debts or obligations

Back

Liability

Front

How do you describe a person or family whose monthly income barely gets them through the month and they have no savings?

Back

Living Paycheck to Paycheck