Dave Ramsey Ch 11 Housing and Real Estate Flashcard 1

Front

It's best to develop good ____ now instead of waiting until you're on your own to figure it all out.
Options: Money habits, Diet and exercise plans, Real estate investments, Friendships

Back

Money habits

Front

Renting is a great option for many people.

Back

True

Front

Your rent payment should total no more than ____% of your take-home pay.

Back

25

Front

What does cost of living refer to?

Back

The average cost of the basic goods and services needed to maintain a certain standard of living.

Front

When you're ready to buy a house, the best option is a ____

Back

15-year fixed-rate conventional mortgage

Front

Your decision to rent or buy depends on your ____.

Back

Financial situation

Front

A house is an asset that typically will ____ value over time.

Back

Increase in

Front

As you shop around and compare rent prices, remember that paying extra for ____ is not worth it if it keeps you from reaching your financial goals.

Back

Amenities

Front

You should buy a home, even if you cannot afford it just yet. Renting is a waste of money.

Back

False

Front

You need to be completely out of debt, have a fully funded emergency fund, and have saved enough cash for a down payment before you ____.

Back

Buy a house