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Dave Ramsey Chapter 1 Flashcards | StudBud
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Dave Ramsey Chapter 1
Dave Ramsey Chapter 1
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Answers
1
Which of the following statements describes how Americans are being outsmarted by banks/lenders
My IQ is low
Buying things on credit is acceptable
Credit is marketing well
we are taught we can buy happiness
2
Personal Financial success is primarily the result of
Inheriting money
Generous welfare programs
Winning the lottery
Managing your money behavior
3
A system by which goods and services are produced and distributed
interest
assets
economy
ownership
4
Why should you learn about personal finance
Mom says
Help eliminate financial mistakes and will promote benefits
They are better learned through trial and error
all other blocks were full
5
Which is a consequence of spending more than you make?
stress
a cycle of debt
all of these
Missed opportunity to save
6
Expensive cars and houses are a true indication of wealth
False
True
7
Everyone should have the same financial plan
True
False
8
A period of temporary economic decline; identified by a fall in GDP
market economy
slope
recession
currency
9
Who is responsible for your financial actions and decisions
my teacher
my dog
ME!!!
my grandma
10
When it comes to managing money, success is ____ knowledge and ____ behavior
60,40
20,80
80,20
50,50
11
Financial Literacy is the knowledge and skill set necessary to be an informed consumer
False
True
12
When it comes to personal finance, the math is easy, What's challenging is managing your
Friends
income
behavior
bank account
13
A person that offers loans at high interest rates
loan shark
loan dolphin
your friends
creditor
14
T or F : Most americans today are wealthy and will have financial security when the retire
True
False
15
Personal Finance is all the decisions you make regarding your money behavior
True
False
16
Having debt keeps you from building wealth
True
False
