Dave Ramsey - Chapter 3 Savings

47% of Americans have less than $1,000 saved for a(n) _______

• Emergency Fund

• Retirement Fund

The persistent rise in the cost of goods and services.

• Deflation

• Inflation

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

Once you have a $500 emergency fund, you should _______.

• Start putting it toward debt

• Save it until you have an emergency

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.

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

The best way to build wealth is to start investing early. You should start investing money

• Once you have a fullly funded emergency fund

• once you are out of college, living debt free and have 3-6 months of living expenses saved.

• When the stock market is performing well.

Why do some accounts, like a savings account at your bank, earn interest?

• Because you deposit money adding to your principal each month.

• Because the bank pays you to use your money.