Dave Ramsey Chapter 1 Money Review Questions And Correct Answers
sinking fund -Answers-saving money for a purchase and letting the interest work for you rather than against you.
amoral -Answers-money is neither good nor bad.
money market -Answers-emergency fund goes here.
compound interest -Answers-interest on interest.
murphys law -Answers-if it can go wrong it will; unexpected events.
baby step 1 -Answers-$500/$1000 in an emergency fund.
baby step 3 -Answers-3-6 months of expenses.
key to wealth building -Answers-discipline
for most people a fully-funded emergency fund will be about ? -Answers-$10,000-
15,000
compound interest -Answers-ben and arthur illustrate this principle.
baby steps 1 & 3 deal with ? -Answers-saving and an emergency fund.
what should you save for ? -Answers-emergency fund purchases and wealth building.
how many baby steps are there ? -Answers-7
saving is about ____ and ____ ? -Answers-contentment and emotion.
PACs what does it stand for ? -Answers-Pre-Authorized Checking.It helps build discipline when saving too.
ben and arthur illustrate the principal of compound interest. -Answers-true.
daves 80/20 rule says when it comes to money 80% is head knowledge and 20% is behavior. -Answers-false.
your income level affects your savings habits. -Answers-false.
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