Dave Ramsey Spring Semester review

Which of the following is a reason that people donʹt save money?

• they lack discipline

• they do not live on a budget

• they lack focus

• all of the above

Tags

CCSS.RI.8.8

CCSS.RI.8.1

CCSS.RL.11-12.1

CCSS.RL.8.1

CCSS.RL.9-10.1

When it comes to saving money, the amount you save is determined by how much you have left at the end of the month once all of your spending is done.

• True

• False

Tags

CCSS.3.OA.D.8

At your age, a fully funded emergency fund should be:

• $500

• $5,000

• $100

• $1,100

Which of the following steps is the First Foundation?

• Get out of debt

• build wealth and give

• save a $500 emergency fund

• pay cash for your car

The first thing you should save for is your retirement fund.

• true

• false

Tags

CCSS.RI.11-12.5

CCSS.RI.9-10.5

CCSS.RI.11-12.3

CCSS.RI.9-10.3

CCSS.RI.8.3

Instead of borrowing money for large purchases, you should set money aside in a _________ over time and pay with cash.

• emergency fund

• sinking fund

• credit card fund

• mortgage fund

Tags

CCSS.RI.11-12.5

CCSS.RI.9-10.5

CCSS.RI.11-12.3

CCSS.RI.9-10.3

CCSS.RI.8.5

Saving money over time for a large purchase.

• Installment Fund

• Sinking Fund

Tags

CCSS.8.EE.C.7B

What does it mean to have a negative savings rate?

• Saving for something that is a want instead of a need

• Having a fully funded emergency fund

• Having no savings at all

• Spending more money than you make and acquiring death

Tags

CCSS.6.NS.C.7C

Interest paid on interest previously earned.

• Compound Interest

• Interest

Why should interest earned not be a factor with your emergency fund?

• Inflation can eat up the interest earned

• Interest-bearing accounts at banks earn a high rate of interest, therefore, interest is not a concern

• The emergency fund is not intended to grow wealth

• None of the above