Dave Ramsey Chapter 12 - Giving

Which of the following should be a consideration when selecting a nonprofit to which you'd like to contribute?

• How well-run the organization is

• Your values and beliefs

• The charity's commitment to accountability and transparency

• All of the above

Which of the following is not one of the Five Foundations?

• Pay cash for your car

• Build your credit

• Build wealth and give

• Save a $500 emergency fund

Which of the following statements is false?

• Giving to others should always be in the form of money.

• Before you can truly help others, you've got to know what is really important to you.

• Knowing what you value will help you select a charitable organization to serve.

• Despite what our culture says, you are unique.

Which of the following is a way that giving to others can benefit you?

• Giving can help you build relationships.

• Giving to others can give you a sense of purpose and fulfillment.

• Sacrificing your money, time, and talents creates a legacy.

• All of the above.

When considering donating to charity:

• you can start giving your time, money or talents now.

• you should wait and see what your friends are willing to give.

• if you are considering tutoring or giving lessons, you should first have a college degree.

• you should first have a large income.

The Five Foundations:

• are optional steps for basic money management.

• are a way of establishing a high credit rating.

• are the beginner steps for establishing and maintaining financial peace.

• are unnecessary steps since most Americans are naturally good money managers.

Your budget should include all of the following except:

• lending money to friends

• saving

• giving

• spending

Which of the following statements is false?

• A gift to a qualified charitable organization may entitle you to a tax deduction.

• You should document your charitable contributions for tax purposes.

• All charitable organizations qualify for a charitable contribution deduction.

• A contribution to a qualified charity is deductible in the year in which it is paid.

Your primary motivation for giving should be:

• tax deductions

• what others will think of you

• whether or not your friends are doing it

• the simple desire to help others

Delaying the act of giving will make giving less likely in your future.

• True

• False