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Dave Ramsey Personal Finance Chapter 2 Questions and Answers Saving money over time for a large purchase. - Answer️️ -Sinking fund When you're older and out of school, you'll need to grow your emergency fund into a full three to six months' worth of expenses. - Answer️️ -True Money today has different buying power than the same amount of money in the future. - Answer️️ -Time value of money The five steps to financial success - Answer️️ -Five Foundations You should save...

Dave Ramsey Foundations in Personal Finance - Chapter 7 Video Terms Questions and Answers 100% Pass Have in no way ______________ the truth. - Answer️️ -misrepresented Have not set out to ____ the other party. - Answer️️ -harm Have created a ___-___ deal. - Answer️️ -win win The first key to opening the door to huge bargains is learning to _________ everything. - Answer️️ -negotiate Win-win deals really work, so don't be ______ to ask for the deal. - Answer️️ -afraid...

Dave Ramsey- Chapter 1 Questions and Answers What is personal finance? - Answer️️ -All of the decisions and activities of an individual or family regarding their money; including spending, saving, budgeting, etc. What is a loan? - Answer️️ -A debt evidenced by a "note" which specifies that principal amount, interest rate and date of repayment What is interest? - Answer️️ -A fee paid by a borrower to the lender for the use of borrowed money; typically interest is calculated as...

Dave Ramsey Chapter 1 Questions and Answers The first thing you should save for is your retirement fund - t/f - Answer️️ -False. Emergencies. Using pre-authorized checking helps save money - t/f - Answer️️ -True. Your first Baby Step to pay off all your debt - t/f - Answer️️ -False. The first Baby Step is saving $1,000 for an emergency fund A money market mutual fund is the best place for your fully funded emergency fund. - t/f - Answer️️ -True. A sinking fund makes money...

chapter 11 post test with 100% correct solutions it's best to develop good ______ now instead of waiting until you're on your own to figure it all out - Answer️️ -money habits Renting is a great option for many people. - Answer️️ -true Your rent payment should total no more than ___% of your take-home pay. - Answer️️ -25 when you're ready to buy a house, the best option is a _______ - Answer️️ -15 year fixed rate how much of your monthly income is budgets specifically ...

Dave Ramsey Personal Finance Chapter 2 Questions and Answers What is the first foundation in Dave's 5 foundations? - Answer️️ -Save $500 in an emergency fund Some people borrow money for large purchases, but we know that we should set our money aside in a ________________ over time and then pay for the big purchase in cash. - Answer️️ -Sinking Fund Spending more money than you make & acquiring debt - Answer️️ -Negative savings rate Money today has different buying power tha...

Dave Ramsey Chapter 4 Questions and Answers 100% Pass ______ of Americans are living paycheck to paycheck - Answer️️ -70% If you tell a _____ long enough it becomes an accepted _____ - Answer️️ -myth; truth credit cards have been ________ with intensity - Answer️️ -marketed paradigm shift - Answer️️ -new way of thinking 1950 Frank McNamara - Answer️️ -created the first credit card (65 years ago) diners club - Answer️️ -use credit cards them to pay for meals 1958 B...

Chapter 1 Dave Ramsey Questions and Answers 100% Pass What is financial literacy? - Answer️️ -The knowledge and skill base necessary for people to be informed consumers and manage their finances. As a single adult, you should.... - Answer️️ -Keep managing your money as a priority Banks got into credit business before 1920 because charging exceptionally high interest rates was legal. - Answer️️ -False Without any debt, you can be outrageously - Answer️️ -Generous Being a s...

Dave Ramsey Foundations in Personal Finance - Chapter 9 Video Terms Questions and Answers While paying insurance premiums may feel like you're losing money, in the end it really helps you ___ more of it. - Answer️️ -get When the consumer is _____ with ___________, the consumer makes different decisions. - Answer️️ -armed, information The purpose of insurance is to ________ risk. - Answer️️ -transfer Without proper insurance, certain losses can ________ you. - Answer️️ -b...

Dave Ramsey: Chapter 3 Questions and Answers 100% Pass what is a consequence of overdrawing your checking account - Answer️️ -overdraft fee, stress, bounced check a written budget, if followed, removes what from your finances - Answer️️ -guilt, management by crisis, overspending percentage of american living paycheck to paycheck - Answer️️ -70% The zero-based budget is the best method of budgeting because - Answer️️ -ensures that every dollar you make is assigned a specif...