Wellbeing Review - Dave Ramsey Questions and Answers Already Passed

Wellbeing Review - Dave Ramsey Questions and Answers Already Passed You should always pay off all debt before you start saving money. False Saving money is about _____________ and _____________. emotion, contentment For Baby Step 1, how much should college students (and those who make less than $20,000) save in an emergency fund? $500 The definition of a "negative" savings rate means you aren't saving as much money as you should. false Just like a brick, money should be considered _____________. amoral Financial emergencies are going to happen. True Where is the best place to keep your short-term emergency or sinking fund savings? money market account For what purpose should you use the sinking fund approach? making large purchases Which is the best way to purchase furniture? use the sinking fund and pay cash An Emergency Fund should be treated as an investment. false What is a key ingredient to wealth building? discipline Using a pre-authorized checking withdrawals is a great way to automate your savings each month? true Building Wealth is (a) marathon not a sprint According to a Federal Reserve Board Survey, the average American has ___________ in savings. $3,800 The story of Ben and Arthur demonstrates the power of compound interest One way to keep 18% more of your money is by not using a credit card that charges you 18% interest. true The most common excuse people make for needing a credit card is for an "emergency" As a college student, you should save at least ________ in an emergency fund. $500 The rate of return on your money is also called interest rate The Financial Institution is the most sophisticated and well-funded marketing machine. true Saving money for a purchase and letting the interest work for you rather than against you is called sinking fund Saving is about contentment and: emotion