Ch. 3 Budgeting (Dave Ramsey)

PYF means you should assign a portion of your income to saving and investing every month

The number-one cause of divorce in North America today is stress and disagreements over money

Doing a budget does not:

A debit card cannot be used for online purchases

A written cash flow plan

Setting up automatic account transfers is the easiest way to build your savings

Series of these are divided into categories & are store cash for planned monthly expenses.

Eating out is a

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

A copy of each check you write

A written budget, if followed, removes _________ from your finances

Online bill pay allows you  to make payments without having to write and mail a check

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

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

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

Your monthly budget should include:

Which of the following is not a record-keeping feature you could expect from your bank?

Percentage of Americans living paycheck to paycheck

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

The envelope system works for managing spending on things that don't have fixed monthly expense

Budgeting is crucial to your financial success

Occurs when money is withdrawn from a bank account and the available balance goes below zero

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

Groceries are a:

Rent or a mortgage is a:

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

Which is something that a typical millionaire would do?

A summary that shows total income and spending for a given time period.

The act of matching your bank statement with your checkbook

Car repairs are a:

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