Exam (elaborations)
Dave Ramsey: Chapter 3| Questions Solved with Verified Correct Answers | Latest Update
- Course
- Institution
Dave Ramsey: Chapter 3| Questions Solved with Verified Correct Answers | Latest Update 2024- 2025
[Show more]
Seller
Follow
Content preview
Dave Ramsey: Chapter 3| Questions Solved withVerified Correct Answers | Latest Update 2024-
2025
A summary of all the income and outgo over a certain time period - ANSWER cash flow
statement
The number-one cause of divorce in North America today is stress and disagreements over
money T/F - ANSWER true
Setting up automatic account transfers is the easiest way to build your savings for your
emergency fund or large purchases
T/F - ANSWER true
If you write a zero-based budget every month, it is not necessary to reconcile your account T/F -
ANSWER false
Budgeting is crucial to your financial success T/F - ANSWER true
Writing and following a zero-based budget will help you avoid overspending and
impulse purchases T/F - ANSWER true
A debit card cannot be used for online purchases T/F - ANSWER false
"Pay yourself first" means you should assign a portion of your income to saving and
investing every month
, T/F - ANSWER false
Online bill pay allows you to make payments to whomever you wish without having to write a
check and send it in the mail T/F - ANSWER true
Having more than one bank account is never a good idea since it can complicate
money management T/F - ANSWER false
what are the reasons cash flow plans sometimes do not work - ANSWER leave things out, over
complicate, don't write or live on a budget
why is the zero based budget the best method for budgeting - ANSWER every dollar made goes
to a specific purpose
explain why you should always have a cash flow plan - ANSWER removes management of
crisis, guilt, shame, fear, stress, overdrafts and overspendings
describe the various payment options that come with a checking account - ANSWER checks,
debit card (online and in stores) online bill payment
why is it important to maintain a file of both paper and electronic financial records - ANSWER
reference for taxes, accurate balance in checking accounts, catch errors the bank made, can
be aware of fraudulent activity
what is a consequence of overdrawing your checking account - ANSWER overdraft fee,
stress, bounced check
a written budget, if followed, removes what from your finances - ANSWER guilt,
management by crisis, overspending
percentage of american living paycheck to paycheck - ANSWER 70%
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller KenAli. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79373 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now