Dave Ramsey Mid-Term Questions and Answers Already Passed

Dave Ramsey Mid-Term Questions and Answers Already Passed Baby Step one to financial peace is to have how much money in an emergency fund? $1,000 Baby Step three is to have expense for how long in a fully funded emergency fund? 3-6 months What is the key ingredient to wealth building? discipline Put the following in the correct order of priorities: invest, give, save give, save, invest When discussing investing, what word refers to the availability of your money? liquidity Give one reason why mutual funds are a good investment. pooled money diversified What word refers to a list of your investments? portfolio We should share our "windfalls" with God. What is a "windfall?" unexpected money You should save money for what three basic reasons? emergency fund purchases wealth building Where does Dave Ramsey recommend that you put your emergency fund? money market Which is the least liquid consumer investment? real estate T/F: Your emergency fund is not an investment. True T/F: Your emergency fund is a great source of money for eating out. False T/F: You should never borrow money to invest. True T/F: Mutual funds are a good short term investment. False T/F: Dave Ramsey recommends investing in gold. False What is "diversification" in investing and why is it important? spreads the risk What did Solomon say a "good man leaves"