Dave Ramsey Test: Chapters 1 & 2 100% Correct Answers Verified Latest 2024 Version
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refers to all the financial decisions an individual or family must make in order to earn, budget, save and
spend money over time - personal finance
assess your __________ situation (your income, assets, and liabilities - financial
set money ________! Make sure you have a mix of both short-term a...
Dave Ramsey Test: Chapters 1 & 2 | 100%
Correct Answers | Verified | Latest 2024 Version
refers to all the financial decisions an individual or family must make in order to earn, budget, save and
spend money over time - ✔✔personal finance
assess your __________ situation (your income, assets, and liabilities - ✔✔financial
set money ________! Make sure you have a mix of both short-term and long-term ________. - ✔✔goals
you must write out a detailed ______ for accomplishing your goals; This begins with your ___________;
Execute you plan! This involves discipline and perseverance - ✔✔plan; budget
know your money ___________ - ✔✔personality
regularly __________________ and reassess your financial plan - ✔✔monitor
replace money _________ with money truths - ✔✔myths
why was buying things on credit not common before 1917? - ✔✔because it had never been legal for
lenders to charge interest rates high enough to turn a profit
only ____________ people could get personal loans - ✔✔wealthy
people who offered loans at an extremely high interest rates, which was an illegal activity - ✔✔loans
sharks
after the Great Depression, WWII proved to be..... - ✔✔the most important economic event in the 20th
century
, based on stats, Americans are... - ✔✔horrible at saving money & planning for reitrement
why arent Americans better at managing money? - ✔✔they were never taught the right way
you dont have to spend more _____________ than you make just to look good in front of your friends -
✔✔money
when you manage money well, you'll experience deeper ______________ - ✔✔satisfaction
personal finance is ____% behavior & _____% head knowledge - ✔✔80% & 20%
money ______ is easy--- its controlling your behavior thats the real challenge - ✔✔math
Remember "___________" is broke - ✔✔normal
different money personalities - ✔✔frustration; role models; pragmatic; money isnt everything
why do we allow ourselves to be outsmarted when it comes to our own money? - ✔✔- we like stuff---
lots of stuff
- we are told that debt is normal
- we are taught we can buy happiness
- our debt system keeps us from building wealth
- we are bombarded with marketing ads
- we arent aware of the financial condition of our country
Americans are charging more than ____________ dollars each your on their credit cards - ✔✔a trillion
what was dave's biggest lesson when it comes to managing money and building wealth - ✔✔take
responsibility for your own finances & don't blame anyone else
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