Dave Ramsey Ch 11 Housing and Real Estate Flashcard 2

Front

Maya is about to start college and her parents advise her that it's best to develop good ____ now instead of waiting until she's on her own to figure it all out.

Back

Money habits

Front

Is renting a great option for many people?

Back

True

Front

Mason is planning his budget and wants to know what percentage of his take-home pay should be allocated to rent. His rent payment should total no more than ____% of his 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 Isla is ready to buy a house, the best option is a ____

Back

15-year fixed-rate conventional mortgage

Front

Abigail's decision to rent or buy a house depends on her ____.

Back

Financial situation

Front

Benjamin bought a house as an investment. Over time, this house will typically ____ value.

Back

Increase in

Front

Lily is considering buying a home even though she can't afford it just yet. She believes renting is a waste of money.

Back

False

Front

Emma needs to be completely out of debt, have a fully funded emergency fund, and have saved enough cash for a down payment before she ____.

Back

Buy a house

Front

When is it okay for Abigail to borrow money because she can't pay 100% in cash? Options: Getting a car lease, Buying a home (mortgage), For home improvement projects, Renting a home

Back

Buying a home (mortgage)