Dave Ramsey Chapters 1-3 Review

Refers to all the money decisions a person or family must make in order to earn, budget, save, and spend money over time. These choices involve planning for

emergencies and for the future.

• Financial Aid

• Personal Finance

• Home Finance

• Cash flow statement

Tags

CCSS.HSA.SSE.B.4

Personal finance is about _______% behavior and _______% head knowledge.

• 30, 70

• 20, 80

• 70, 30

• 80, 20

Tags

CCSS.7.RP.A.3

A measurement of the total dollar value of a person’s or business’ assets minus liabilities is called:

• Net Worth

• Wealth

• Earnings

• Income

A liability can be described as:

• Something you own that has value

• Money you owe; a debt

• Something that goes down in value over time

• Money that you have in a savings account

The First Foundation is:

• Get out of debt

• Pay cash for a car

• Save a $500 emergency fund

• Build wealth and give

It is impossible to save money when you have a small income.

• True

• False

Tags

CCSS.RL.8.1

CCSS.RI.8.1

CCSS.RI.8.8

CCSS.RL.11-12.1

CCSS.RL.9-10.1

Which of the following would be a good reason to use money out of your emergency fund?

• I need a vacation at the beach.

• The jeans that I really want are on sale this week, but I don’t have enough money on hand to get them.

• The transmission went out in my car.

• My friend needs to borrow money from me so that she can go the concert with us this weekend.

Tags

CCSS.HSA.SSE.A.1

CCSS.HSS.MD.B.5

Which of the following allows invested money to grow over time?

• Compound Interest

• Premium payments

• Taxes

• Inflation

Tags

CCSS.7.RP.A.3

The condition of having unlimited wants but limited resources is known as:

• Consumerism

• Scarcity

• Global demand

• Budgeting

A plan for spending is called a(n):

• Checking Account

• Economy

• Scarcity

• Budget

Tags

CCSS.HSA.SSE.A.1

CCSS.HSA.CED.A.3