Dave Ramsey - Budgeting

Doing a budget does not:

• Show if you are overspending in an area

• Remove guilt and shame sometimes associated with a purchase

• Make overspending more likely

• Make your money go further

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Expenses that remain the same from month to month.

• Variable

• Fixed

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Non-essential expenses

• Discretionary

• Intermittent

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Having more than one bank account is never a good idea since it can complicate money management.

• True

• False

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4. The zero-based budget is the best method of budgeting because:

• This type of budget is less complicated than other types of budgets

• A zero-based budget allows less money for wants

• Sticking to a zero-based budget requires less discipline

• The zero-based budget ensures that every dollar you make is assigned a specific purpose

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ʺPay yourself firstʺ means you should assign a portion of your income to saving and investing every month.

• True

• False

Groceries are a:

• Fixed Expense

• Variable Expense

• Discretionary Expense

• Intermittent Expense

If you write a zero-based budget every month, it is not necessary to reconcile your account.

• True

• False

Which of the following is something that a typical millionaire would do?

• Spend less money than he or she makes

• lease a new car

• replace things that are not broken

• carry debt

Online bill pay allows you to make payments to whomever you wish without having to write a check and send it in the mail.

• True

• False

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