Dave Ramsey Bargain Shopping Test

Front

What is 'walk-away power'?

Back

The ability to walk away from a deal or negotiation if it does not meet your needs or expectations.

Front

What is foreclosure?

Back

The process by which a bank sells the property of a homeowner who has not made payments on time.

Front

What is an estate sale?

Back

A type of yard sale that includes the entire contents of a household, typically held when someone is moving or has passed away.

Front

What is the importance of patience in bargain shopping?

Back

Patience allows shoppers to wait for the right deals and not rush into purchases that may not be beneficial.

Front

What is the 'If I take away' technique?

Back

A negotiation strategy where you present what you would lose if the deal does not go through, to encourage the other party to reconsider.

Front

What is a garage sale?

Back

A sale of used items from a home, typically held in the garage or yard, where individuals sell personal belongings.

Front

What is the difference between an auction and a private sale?

Back

An auction is a public sale where items are sold to the highest bidder, while a private sale is a transaction between two parties without public bidding.

Front

What does it mean to have 'immediacy' in shopping?

Back

The urgency to make a purchase quickly, often leading to hasty decisions that may not be well thought out.

Front

What is repossession?

Back

The act of taking back property by a lender or seller from the borrower or buyer due to non-payment.

Front

What are the benefits of shopping at estate sales?

Back

Estate sales often offer unique items at lower prices, as they are typically motivated by the need to clear out a home.