Dave Ramsey - Chapter 3 Savings
Authored by Sheryl Jones
Other
10th - 12th Grade
CCSS covered
Used 221+ times
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About
This quiz covers personal finance fundamentals with a specific focus on savings strategies, emergency funds, and wealth-building principles appropriate for grades 10-12. The questions assess students' understanding of core financial literacy concepts including emergency fund establishment ($500 for high school students, 3-6 months of expenses for adults), the foundations of financial planning, compound growth and interest calculations, inflation's impact on purchasing power, and debt avoidance strategies. Students need to demonstrate comprehension of the time value of money, understand the relationship between saving and spending habits, and grasp fundamental investment principles such as starting early and allowing time for compound growth. The content emphasizes practical money management skills including budgeting priorities (giving, saving, spending), distinguishing between wants and needs, and making informed decisions about large purchases by saving rather than financing. Created by Sheryl Jones, an Other subject teacher in US who teaches grade 10-12. This comprehensive assessment serves multiple instructional purposes throughout a personal finance unit, functioning effectively as a chapter review, homework assignment, or formative assessment tool to gauge student mastery of essential money management concepts. Teachers can utilize this quiz as a warm-up activity to reinforce previous lessons on emergency funds and savings strategies, or deploy it as practice before summative assessments on financial planning principles. The varied question formats and practical scenarios make it ideal for classroom discussions about real-world financial decision-making and can support standards such as those found in Jump$tart Coalition guidelines and state-specific financial literacy requirements that emphasize emergency preparedness, understanding of compound interest, and development of sound saving habits that build long-term financial security.
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40 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
47% of Americans have less than $1,000 saved for a(n) _______
Emergency Fund
Retirement Fund
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The persistent rise in the cost of goods and services.
Deflation
Inflation
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
You will have less freedom with your money if you ______
invest in the stock market
put money in a bank account
make less than 35,000
are paying for things in the past
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Once you have a $500 emergency fund, you should _______.
Start putting it toward debt
Save it until you have an emergency
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The first step you should take when you want to make a large purchase is _______.
Ask your parents to loan you the money with low interest
Decide how much you will need to save and the time you want to save it in.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
At your age, a fully funded emergency fund should be:
$500
$5,000
$100
$1,100
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
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