Ch. 2: Saving

The five steps to financial success are:

Your income level greatly affects your saving habits.

The persistent increase in the cost of goods or services:

A savings account that is set aside to be used only for emergency expenses

Which of these is an appropriate use of your emergency fund?

An obligation of repayment owed by one party to another

What is the Second basic reason to save money?

All of the decisions and activities of an individual or family regarding money

Before what year was credit basically unheard of?

Saving money over time for a large purchase

When you are older, how much money should be in your emergency fund?

In the Five Foundations, what were the 2 things Dave says to pay cash for?

The granting of a loan and the creation of debt

When it comes to managing money, success is about _____% head knowledge and _____% behavior

A system by which goods and services are produced and distributed

What is the Third basic reason for saving money?

Interest paid on interest previously earned

A debt evidenced by a "note" which specifies the principal amount, interest rate and date of repayment

A rate which is either charged or paid for the use of money

A person or organization that uses a product or service

Where does Dave suggest to put your emergency fund?

What is the First basic reason to save money?

How much money should be in your emergency fund as a teenager?