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Foundations In Personal Finance Chapters 1-3 Vocab Flashcards | StudBud
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Foundations In Personal Finance Chapters 1-3 Vocab
Foundations In Personal Finance Chapters 1-3 Vocab
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Chapters one, two, and three vocab in the Dave Ramsey Foundations book.
Flashcards
21 cards
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Questions
21
Answers
1
Interest paid on interest previously earned.
Compound Interest
Interest rate
Sinking Fund
Loan
2
Five hundred dollars in readily available cash to be used only in the event of an emergency.
Credit
Interest Rate
Emergency Fund
Loan
3
Series of envelpes that are divided into categories and used to store cash for planned expenses
Carbon Check
Cash Flow Statement
Envelope System
Impulse Purchase
4
A summary that shows total income and spending for a given time period.
Carbon Check
Overdraft
Cash Flow Statement
Impulse Purchase
5
The knowledge and skillset necessary to be an informed consumer and manage finances effectively
Loan
Personal Finance
Financial Literacy
Debt
6
A fee paid by a borrower to the lender for the use of borrowed money.
Interest
Loan
Consumer
Credit
7
A copy of each check you write.
Credit
Overdraft
Budget
Carbon Check
8
All of the decisions and activities of an individual or family regarding their money.
Credit
Personal Finance
Loan
Consumer
9
An item that is bought without previous planning or consideration of the long-term effects.
Credit
Impulse Purchase
Consumer
Budget
10
A person or organization that uses a product or service.
Interest
Economy
Consumer
Credit
11
A system by which goods and services are produced and distributed.
Interest
Financial Literacy
Economy
Personal Finance
12
An obligation of repayment owed by one party to a second party.
Credit
Debt
Loan
Interest
13
The granting of a loan and the creation of debt; any form of deferred payment.
Credit
Loan
Debt
Interest
14
Percentage paid to a lender for the use of borrowed money.
Interest Rate
Compound
Interest
Compoud Interest
15
A debt evidenced by a "note".
Credit
Loan
Debt
Interest
16
To match your bank statement with your checkbook .
Reconcile
Budget
Carbon Check
Envelope System
17
Occurs when money is withdrawn from a bank account and the available balance goes below zero.
Debt
Carbon Check
Zero-Based Budget
Overdraft
18
A cash flow plan that assigns an expense to every dollar of your income.
Envelope System
Budget
Cash Flow Statement
Zero-Based Budget
19
Saving money over time for a large purchase.
Sinking Fund
Compound
Credit
Emergency Fund
20
The five steps to financial success.
Five Foundations
Interest
Sinking Fund
Credit
21
A written cash flow plan.
Overdraft
Budget
Reconcile
Carbon Check
