Dave Ramsey Chapter 2 Review

When you are creating your monthly budget, what is the first priority under "Expenses"?

• Saving

• Giving

• Bills (Spending)

• Entertainment

What will tracking expenses help you do?

• Stick to a budget

• Catch errors

• Make adjustments

• All of these

What is your biggest wealth-building tool?

• Income

• Investments

• Savings Account

• Inheritance

What is it called when you make money on the percentage of the total sales you make?

• Irregular Income

• Gross Income

• Commission

• Overttime

A(n) _________ should account for fixed, variable, intermittent, and discretionary expenses based on income.

• Zero-based Budget

• Budget

• Cash Flow Statement

• All of these

A(n) _________ stays the same from month to month.

• Intermittent Expense

• Fixed Expense

• Variable Expense

• Discretionary Expense

A(n) _________ needs to be evaluated in light of your other expenses for the month.

• Intermittent Expense

• Fixed Expense

• Variable Expense

• Discretionary Expense

To budget with a(n) ________, prioritize expenses from most to least important so your most important expenses are covered first.

• Irregular Income

• Net Income

• Gross Income

• None of these

The cost of groceries and gas is considered a(n) ________.

• Fixed Expense

• Variable Expense

• Intermittent Expense

• Discretionary Expense

Taxes and withholdings impact your _______, which is the amount of money you take home on your paycheck.

• Earnings

• Gross Income

• Net Income

• Irregular Income