Financial Literacy Review

Which motto does Dave Ramsey always advocate?

• “In order to live like no one else, you have to live like no one else”

• “Credit cards stink, just ask a friend”

• “Live life to the fullest”

• “Spending money is just part of life, everyone does it”

What is baby step #1 of Dave Ramsey’s baby steps to financial success?

• Save 15% for your retirement

• Give Generously

• State saving for your kids college fund

• save $1000 for your emergency fund

What is one way Dave Ramsey says students can save money while in college?

• Get as much free stuff from the credit card companies and sell it on Ebay

• Go to school in another state

• Get the lowest school loan and major in the highest paying career field so that you can pay off your school loans later

• Choosing a college you can afford

Which of the following ideas would Dave Ramsey advocate to students whose about to go to college?

• Debt is okay since students will have the rest of their life to pay it off

• Debt is never okay, students must think critically about trying to pay for college as they go to school and remain debt free

• Student loans are okay only if student get a cheap interest rate

What does Dave Ramsey indicate as YOUR most powerful wealth building tool?

• your income

• interest rate on your credit card

• interest rate on your school loan

• your college choice

Which of the following statements about going to college is NOT true?

• College isn’t a requirement to make you happy

• College doesn’t guarantee you a job

• Going to a four year university is very cheap

• College doesn’t guarantee you success in the future

Americans on average owe individually $_?_ and collectively $_?_ worth of college loans.

• $32,731 and $1.52 Trillion

• $20,506 and $1.2 Trillion

• $39,500 and $1.9 Trillion

• $55,045 and $2.6 Trillion

College has become increasingly expensive in recent years. Which of the following is NOT a reason why?

• More people are deciding to go to college than ever before

• Building of Campus amenities to draw students to their college

• Students have easy access to federal loans and other grants

• Taxes on college are rising faster than ever

It is possible for a teenager:

• to go to college without taking out any loans.

• build wealth without using a budget.

• to finance their college years on a credit card and live with financial freedom.

What are some ways that students can use to help go to school debt free?

• Continuously applying for aid and grants

• Explore going to community college first before a four year university

• join the military/ROTC programs on campus

• all the above