Ramsey Personal Finance

Question 1

Interest is: money paid regularly at a particular rate for the use of money lent or for delaying the repayment of a debt

Accepted Answer

True

Question 2

True or false consumer means: a person who purchases goods and services for personal use.

Accepted Answer

True

Question 3

Negative Net Worth

Accepted Answer

If your liabilities are greater than your assets

Question 4

Financial Literacy

Accepted Answer

saving, investing, financial freedom, borrowing

Question 5

Expense

Accepted Answer

the cost required for something; the money spent on something., what a cost is

Question 6

Liability

Accepted Answer

required by law to be responsible for your actions, the state of being responsible for something, especially by law.

Question 7

Net Worth

Accepted Answer

the value of all your assets, minus the value of your liabilities

Question 8

Positive Net Worth

Accepted Answer

If your assets are more than your liabilities

Question 9

Interest Rate

Accepted Answer

the proportion of a loan that is charged as interest to the borrower

Question 10

Net Income

Accepted Answer

All of your money made subtracted by bills paid and other ilabilities.

Question 11

Paycheck to Paycheck

Accepted Answer

spend nearly all of their income, leaving little to no

Question 12

Financial Plan

Accepted Answer

involves a thorough examination of your income and spending

Question 13

Debt

Accepted Answer

something, typically money, that is owed or due., something thats owed to someone

Question 14

Asset

Accepted Answer

a useful or valuable thing, person, or quality.

Question 15

Loan Shark

Accepted Answer

lenders who often target people who need to borrow money and can't legally

Question 16

Personal Finance

Accepted Answer

the management of your money, including saving and investing

Question 17

Credit

Accepted Answer

recording a sum received, listed on the right-hand side

Questions 17