Dave Ramsey Chapter 3

If you write a zero-based budget every month, it is not necessary to reconcile your account.

Expenses that remain the same from month to month

Which of the following is a consequence of overdrawing your checking account?

Writing & following a zero-based budget will help you avoid overspending and impulse purchases.

Online bill pay allows you to make pymts w/out having to write a check and send it in the mail.

Occurs when money is withdrawn from a bank account and the available balance goes below zero

Cash flow plan that assigns an expense to every $ of your income, total income-total expenses=0

Which of the following is something that a typical millionaire would do?

ʺPay yourself firstʺ means you should assign a portion of your income to saving and investing

A summary of all the income and outgo over a certain time period

A written cash flow plan

Car repairs are a:

Percentage of Americans living paycheck to paycheck:

The zero-based budget is the best method of budgeting because:

Doing a budget does not:

To match your bank statement with your checkbook

Envelope system works great for managing spending on things that donʹt have a fixed monthly exp

Eating out is a:

A debit card cannot be used for online purchases.

An item that is bought without previous planning or consideration of the long-term effects

A written budget, if followed, removes ______ from your finances.

Your monthly budget should include:

The following are guidelines for budgeting with an irregular income except:

Groceries are a:

Series of envelopes divided into categories & are used to store cash for planned monthly exp

Non-essential expenses

Having more than 1 bank account is never a good idea since it can complicate money management.

Which of the following account records would have the most current balance?

Rent is a:

Your own record of all your transactions