Dave Ramsey-Foundations chapter 1-Mr. Shiflett

A person or organization that uses a product or service:

• buyer

• consumer

• saver

• spender

The granting of a loan and creation of a debt; any form of deferred payment:

• Interest

• Savings

• Credit

• Economics

A system by which goods and services are produced and distributed:

• Economy

• Finance

• Credit

• Loans

The knowledge and skill set necessary to be an informed consumer and manage finances effectively:

• Financial Savvy

• Financial Personality

• Financial Literacy

• Personal Finance

A fee paid by the borrower by the lender for the use of borrowed money; typically calculated as a percentage of the loan amount:

• Excise

• Tax

• Interest

• Annual Percentage Yield

Another name for a loan is a(n) :

• "note"

• "plan"

• "credit"

• "principal"

Personal Finance is _________% behavior and _____________% knowledge.

• 60-40

• 50-50

• 80-20

• 10-90

A detailed plan for accomplishing your financial goals is called a (n):

• monitor

• budget

• myth

• execution

The "Normal" American family today is:

• on monthly budgets

• broke

• debt-free

• living on a surplus of savings

The 3 Levels of financial management (well-being) are (choose 3):

• Survival

• Negative Cash Flow

• Comfort

• Secure