stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Duplicate of Dave Ramsey Chapter 1 Flashcards | StudBud
Explore
/
Duplicate of Dave Ramsey Chapter 1
Duplicate of Dave Ramsey Chapter 1
18 terms
·
StudBud Administration
·
39 plays
Imported from external platform
Flashcards
18 cards
F
Practice quiz
P
Host live
L
Questions
18
Answers
1
Personal financial success is primarily the result of:
Winning the lottery
Generous welfare and unemployment programs
Inheriting money from your parents
Managing your money behavior
2
Most Americans today are wealthy and will have financial security when they retire.
True
IDK
False
Maybe
3
Learning the language of money is not important because you will be able to depend on others
Maybe
Absolutely
IDK
No way
4
Why was the use of credit uncommon prior to 1917?
Borrowing money was generally not socially acceptable.
Laws prevented lenders from charging high interest rates.
Lending money to others was not profitable.
All of these
5
Which of the following statements best describes how Americans are being outsmarted by banks?
Buying things on credit has become acceptable in our culture
We are taught that we can buy happiness.
Credit is marketed so well that we desire to have it
We are driven by consumerism.
6
When it comes to managing money, success is about ________% knowledge and ________%behavior.
80, 20
60, 40
20, 80
50, 50
7
The widespread financial insecurity of Americans is primarily because:
Gov. programs cannot help people when they are disabled
Most Americans save a high proportion of their income
Savings rate of Americans is low and they spend more
The incomes of Americans are low
8
Most Americans avoid the use of credit when it comes to buying big-ticket items like a car.
False
True
Maybe
IDK
9
Which of the following is not a true statement?
Americans learned to borrow amidst post-WWII prosperity.
As banks made profits, they lent more $ to consumers.
Credit industry in America has not changed much since 1917.
After 1970, consumer debt skyrocketed.
10
The knowledge and skillset necessary to be an informed consumer and manage finances effectively
budgeting
saving
investing
financial literacy
11
When it comes to personal finance, the math is easy. Whatʹs challenging is managing your______.
Behavior
Income
Friends
Bank account
12
Key components of financial planning include all of the following except:
Regularly monitor and reassess your financial plan
Replace money myths with money truths
Allow your financial planner to make all of your decisions
Write out a detailed plan for accomplishing your goals
13
A person or business that offers loans at extremely high interest rates
creditor
A bookie
Fifth Third Bank
loan shark
14
Having debt keeps you from building wealth.
IDK
No
Yes
Maybe
15
Which of the following is a consequence of spending more than you make?
Missed opportunity to save and invest
All of these
A cycle of debt
Stress
16
Which of the following is not a factor in becoming money smart?
Have knowledge of basic math
Learn the language of money
Manage your behavior with money
Learn how to read your credit card statements
17
Which of the following statements best explains why income alone does not determine wealth?
Investing is the only factor that contributes to wealth
Income alone does determine a personʹs wealth.
Only people who are natural savers can become wealthy.
The $ a person makes does not dictate her spending behavior.
18
Expensive houses and new cars are a true indication of wealth.
Glue
Not usually
Always
IDK
