Dave Ramsey - Chapter 3 Exam with
Questions and Correct Answers/ Already
Grade A+ (latest version)
budget - Answer✔️✔️a written cash flow plan
cash flow statement - Answer✔️✔️a summary that shows total income and spending for a
given time period
carbon check - Answer✔️✔️a copy of each check you write
envelope system - Answer✔️✔️series of envelopes that are divided into categories and are
used to store cash for planned monthly expenses
impulse purchase - Answer✔️✔️an item that is bought without previous planning or
consideration of the long-term effects
overdraft - Answer✔️✔️occurs when money is withdrawn from a bank account and the
available balance goes below zero
reconcile - Answer✔️✔️to match your bank statement with your checkbook
, zero-based budget - Answer✔️✔️a cash flow plan that assigns an expense to every dollar of
your income, wherein the total income minus the total expenses equals zero
10 things millionaires do not do - Answer✔️✔️1) Buy brand new cars.
2) Eat out on a regular basis.
3) Replace what is not broken.
4) Impulse buy.
5) Carry debt.
6) Visit the tanning bed.
7) Buy brand-name clothes.
8) Desire instant gratification.
9) Socialize with people who waste money.
10) Spend more money than they earn.
four reasons people avoid budgets - Answer✔️✔️1) It has a straitjacket connotation.
2) A budget has been used to abuse them.
3) They've never had a budget that worked.
4) Paralysis from fear of what they will find.
Questions and Correct Answers/ Already
Grade A+ (latest version)
budget - Answer✔️✔️a written cash flow plan
cash flow statement - Answer✔️✔️a summary that shows total income and spending for a
given time period
carbon check - Answer✔️✔️a copy of each check you write
envelope system - Answer✔️✔️series of envelopes that are divided into categories and are
used to store cash for planned monthly expenses
impulse purchase - Answer✔️✔️an item that is bought without previous planning or
consideration of the long-term effects
overdraft - Answer✔️✔️occurs when money is withdrawn from a bank account and the
available balance goes below zero
reconcile - Answer✔️✔️to match your bank statement with your checkbook
, zero-based budget - Answer✔️✔️a cash flow plan that assigns an expense to every dollar of
your income, wherein the total income minus the total expenses equals zero
10 things millionaires do not do - Answer✔️✔️1) Buy brand new cars.
2) Eat out on a regular basis.
3) Replace what is not broken.
4) Impulse buy.
5) Carry debt.
6) Visit the tanning bed.
7) Buy brand-name clothes.
8) Desire instant gratification.
9) Socialize with people who waste money.
10) Spend more money than they earn.
four reasons people avoid budgets - Answer✔️✔️1) It has a straitjacket connotation.
2) A budget has been used to abuse them.
3) They've never had a budget that worked.
4) Paralysis from fear of what they will find.
