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Dave Ramsey - Chapter 3 Exam | Questions Solved with Verified Correct Answers | Latest Update
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Dave Ramsey - Chapter 3 Exam |Questions Solved with Verified Correct
Answers | Latest Update
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.
7 wealth-building habits - ANSWER 1) Live on less than you make.
2) Keep on learning and finding ways to grow your income.
3) Write a monthly budget that includes saving, giving, and spending
4) Plan your spending and avoid impulsive or unnecessary purchases.
5) Stay out of debt.
6) Pay yourself first.
7) Use gifts and "extra" income wisely.
variable expenses, fixed expenses, intermittent expenses, and discretionary
expenses - ANSWER four types of expenses to budget for
, variable expenses - ANSWER expenses that vary from month to month
examples of variable expenses - ANSWER electricity, gas, groceries, clothing
fixed expenses - ANSWER expenses that remain the same from month to month
examples of fixed expenses - ANSWER rent, insurance premiums, cable bill
intermittent expenses - ANSWER expenses that occur at various times throughout
the year and tend to be in large lump sums
examples of intermittent expesnes - ANSWER tuition payments, athletic or club
dues, car repairs
discretionary expenses - ANSWER expenses for things we don't need
examples of discretionary expenses - ANSWER eating out, gifts, candy
you leave things out, oyu overcomplicate your plan, you don't actually do it, and
you don't actually live on it - ANSWER cash flow plans do not work when...
It removes the "management by crisis" from your finances and managed money
goes further. - ANSWER reasons you should do a cash flow plan
check number - ANSWER What do you write on a check register for a check?
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