Dave Ramsey Chapter 1 Questions and Answers Already Passed

Dave Ramsey Chapter 1 Questions and Answers Already Passed What is financial literacy? The knowledge and skill base necessary for people to be informed consumers and manage their finances. As a single adult, you should.... Keep managing your money as a priority Banks got into credit business before 1920 because charging exceptionally high interest rates was legal. False Without any debt, you can be outrageously Generous Being a spender has many more positives than being a saver. False If your assets total more than your liabilities, you will a _________ net worth. Postive What are The Five Foundations? A personal financial action plan. You are either only a natural saver or a natural spender. You cannot have a balance of both. False. Franklin D. Roosevelt passed the New Deal because of the Great Depression in the 1930s. What was the purpose of this program? To promote economic recovery and social reform. A ____ financial goal takes up to two years to reach. Short-term An important money principle to consider is that you should _____ and ________ your money. Save; invest Savers have a tendency to be... Strict with their money and not spend any of it Avoiding debt can lead to financial freedom and hope. True Personal Finance is all the financial freedom and hope. True Your money personality impacts... How you handle money What does living paycheck to paycheck mean? Living paycheck to paycheck occurs when a person's income is devoted to expenses, which means that little to no money is put in savings. What is The First Foundation? Save a $500 emergency fund It is possible to pay for college with cash. True Personal Finance is 20% ___ and 80% ____. Head knowledge; behavior You should always make sure you have a... Budget What is The Fifth Foundation? Build wealth and give In 1972, what association made borrowing money to attend college much easier than it had been? The Student Loan Marketing Association (SLMA) When you set financial goals, they should be... Specific, measurable, time-sensitive, yours, and written To know your net worth, subtract your liabilities