Dave Ramsey Chapter 8 Banking

money put into a financial account

• extraction

• contraction

• deposit

• withdrawal

What does the term "unbanked" refer to?

• Financial institutions that do not offer savings accounts.

• People who have online banking accounts only.

• People who don't have bank accounts.

• Banks that are not insured by the government.

What is a bank statement?

• A sum of money deposited into an account

• A monthly record of account transactions sent to you by your bank

• The industry involved in conducting financial transactions

• A check that has not yet been deducted from the person's bank account

It's a good idea to pick a bank that has a lot of ATM locations & a banking app?

• True

• False

a sum of money deposited into an account

• debit

• withdrawl

• credit

• leave it

How often should you monitor you bank account?

• Once a month

• Once a year

• Twice a week

• When convenient

What does it mean to endorse a check?

• To balance a checking account with your monthly bank statement

• To sign your name on the back for deposit or on the front when writing it

• To transfer funds electronically from a debit card

• To write a check without sufficient funds in the account

Liquidity means how fast you can access your money?

• True

• False

a bank or credit union deposit account which can be used hold your money with easy access

• line of credit account

• checking account

• writing account

• cashing account

Tracking my expenses and balancing my checkbook are important because it helps me stick to my budget as I’m aware of how much money is going out of my account?

• True

• False