Ramsey Saving Pre-Test

45% of Americans have less than $1,000 saved a(n) ____________.

• Emergency

• Retirement Fund

• New Smartphone

Which principle says that a certain amount of money today is worth more than the same amount in the future?

• Principle Interest

• The time value of money

• Inflation

One of the main reasons we build wealth is so we can what?

• Give to those in need

• Spend it all on ourselves

• Impress the people around us

What is the amount of interest charged on a debt but not yet collected called?

• Growth rate

• Same-as-cash

• Accrued Interest

Which of these would count as a legitimate reason to use your emergency fund?

• Your car battery died

• You forgot to budget for your mom's birthday

• The smartphone you've wanted just went on sale

90% of millionaires make over $100,000 a year.

• True

• False

While saving money isn't easy at first, it will make your life a lot _________ in the future if you make it habit now.

• Longer

• Harder

• Easier

In order to outpace inflation when investing, your investments need to have a lower rate of return than the rate of inflation.

• True

• False

The top 3 careers reported among millionaires were __________, ____________, and _________________

• Accountants, engineers, teachers

• Celebrities, developers, writers

• Lawyers, surgeons, accountants

What is the 3rd Foundation?

• Create a monthly budget

• Save for retirement

• Pay cash for your car