In 1972, what association make borrowing money to attend college much easier than it had been?

The Student Loan Marketing Association

The Student Federal Funding Associtation

The Federal Student Approval Association

The Student Loan Apporvol Association

When you set financial goals, they should be...

Specific, measurable, time-sensitive, yours, and written

Timely, bank-based, specific, and yours

What are the Four Walls?

Food, utilities, transportation, and shelter

Utilities, college fund, restaurants, and car insurance

Cell Phone bill, car insurance, shelter, and money for movies

Food, utilities, transportation, and college fund

Why is tracking your expenses throughout the month important?

It gives you insight into whether you're stiching to the budget you set.

It really isn't that important in the long run.

It helps you pull money from your saving to spend in other categories.

It allows you to delete categories you don't like.

When is the right time to start creating and living by a budget?

Right now-it's never too early!

When you start researching colleges

What should you do if you overspend in one category of your budget?

Adjust your budget by removing money from other spending categories

Use a credit card to make up the difference

The first step to make a large purchase is...

Decide how much you'll need to save and the time frame you want to save it in

Ask your parents to loan you the money

Sell something and use the proceeds

You should start investing money to build wealth....

Once you're out of college, living debt-free, and have 3-6 months of living expenses saved

Once you have a fully funded emergency fund

When the stock market is performing well

Why do some accounts, like savings accounts at your local bank, earn interest?

Because the bank pays you to use your money

Because you deposit money, adding to your principal each month

Because those accounts always have great interest rates

The purpose of an emergency fund is to...

So if an emergency happens you don't go into debt

Teach you how to invest in mutual funds

So you can cover your credit card bill after Christmas

The main reasons for saving your hard-earned money are...

Emergencies, large purchases, and wealth building

Investing, indulging, and influencing

Buying gifts, donating to charities, and building up your college fund

Paying for a dream home, buying a car, and going on vaction

Ramsey Classroom Final Review Chapters 1 to 3

Authored by Christopher Foster

Mathematics

12th Grade

CCSS covered

Used 5+ times

Ramsey Classroom Final Review Chapters 1 to 3

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24 questions

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MULTIPLE CHOICE QUESTION

1 min • 1 pt

You should always make sure you have a...

Credit Card

Credit Score

Budget

Second Job

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the First Foundation?

Open a checking account

Save a $500 emergency fund

Build Wealth and Give

Pay cash for college

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Personal Finance is all the financial decisions a(n)_______must make in order to earn, budget, save, spend, and give money over time.

Individual or family

Company

Individual or company

Bank

Tags

CCSS.RI.11-12.5

CCSS.RI.8.5

CCSS.RI.9-10.5

CCSS.RI.6.5

CCSS.RI.7.5

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A money principle to keep in mind is to live on_________you make.

Less than

The same as

More than

Exactly 20% below what

Tags

CCSS.RI.11-12.5

CCSS.RI.8.5

CCSS.RI.9-10.5

CCSS.RI.11-12.3

CCSS.RI.9-10.3

MULTIPLE CHOICE QUESTION

1 min • 1 pt

To know your net worth, subtract your liabilities from your_______.

Assets

Previous net worth

Net income

Other liabilities

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If your assets total more than your liabilities, you will have a(n)______net worth.

Unknown

Equal

Positive

Negative

Tags

CCSS.6.NS.C.5

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What does living paycheck to paycheck mean?

Living paycheck to paycheck means they don't save any of their paycheck

When a person chooses to not deposit their paycheck

Living paycheck to paycheck is when someone eagerly awaits their next paycheck to plan for the month's expenses

Living paycheck to paycheck means someone who is not happy unless its payday

Tags

CCSS.RI.11-12.4

CCSS.RI.9-10.4

CCSS.RL.11-12.4

CCSS.RL.8.4

CCSS.RL.9-10.4

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Ramsey Classroom Final Review Chapters 1 to 3

You should always make sure you have a...

What is the First Foundation?

Personal Finance is all the financial decisions a(n)_______must make in order to earn, budget, save, spend, and give money over time.

A money principle to keep in mind is to live on_________you make.

To know your net worth, subtract your liabilities from your_______.

If your assets total more than your liabilities, you will have a(n)______net worth.

What does living paycheck to paycheck mean?

In 1972, what association make borrowing money to attend college much easier than it had been?

When you set financial goals, they should be...

Personal Finance is 20%______and 80%_______.

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Personal Finance is 20%and 80%_.