Dave Ramsey: Chapter 3 Latest Version with Complete Solutions

Dave Ramsey: Chapter 3 Latest Version with Complete Solutions what is a consequence of overdrawing your checking account overdraft fee, stress, bounced check a written budget, if followed, removes what from your finances guilt, management by crisis, overspending percentage of american living paycheck to paycheck 70% The zero-based budget is the best method of budgeting because ensures that every dollar you make is assigned a specific purpose what is not a record-keeping feature you could expect from your bank Customer service reconciles your account for you Doing a budget does not Make overspending more likely Your monthly budget should include fixed, discretionary, and variable expenses Which of the following statements is false A. The cash flow statement is reflective of what has already taken place. Incorrect B. A budget is meant to summarize the saving and spending that has taken place over the past year. C. A cash flow statement summarizes all of the income and outgo (spending) over a certain time period. D. A budget is a written plan for saving and spending. A budget is meant to summarize the saving and spending that has taken place over the past year. what is something that a typical millionaire would do spend less money than he or she makes rent is a fixed expense eating out is a discretionary expense car repairs are a intermittent expense groceries are a variable expense Occurs when money is withdrawn from a bank account and the available balance goes below zero overdraft Your own record of all your transactions check register A cash flow plan that assigns an expense to every dollar of your income, wherein the total income minus the total expenses equals zero