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Dave Ramsey Ch 1 Flashcards | StudBud
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Dave Ramsey Ch 1
Dave Ramsey Ch 1
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Personal Finance
Flashcards
18 cards
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Practice quiz
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Questions
18
Answers
1
The "normal" American family is broke
True
False
2
What year did credit take root in America?
2010
1995
1977
1920
3
What is personal finance?
My checkbook
decisions I make regarding earning, saving, spending $
The banks way of holding my money
Spending all my money
4
A person or organization that buys/uses goods or services is...
Creditor
Consumer
human
Person
5
Personal Finance is 80% _______ and 20% _______.
Basic Math Shills, Understanding
Behavior, Basic math skills
Basic Math Skills, Head Knowledge
Behavior, Head Knowledge
6
Once you have a money plan you need to _____?
execute it
teach it
forget it
share it
7
You need to set money ______?
aside
goals
due date
down
8
Why didn't people loan money prior to credit taking root?
There were too many laws, and no money to be made
All people were wealthy
People did not need it
It was embarassing
9
You must write out a detailed ________?
answer
description
plan
lesson
10
Dave Ramsey has always had great spending habits
True
False
11
Most American families live paycheck to paycheck...
True
False
12
What did Dave do before he became famous for financial advice?
Banker
Real Estate
Stay at home dad
In management
13
We are told that debt is _____
Alright
a great thing to have
Good
Normal
14
The granting of a loan and the creation of a debt is...
Credit
Payment plan
Debt
Normal
15
People buy things they cannot afford to look rich or cool
True
False
16
Why is credit so popular now?
It is easy to get credit
All the above
It is normal to have credit debt
Because people buy things they cannot afford
17
The average amount of credit card debt in an American family is...
$10,799
$15,799
$15.00
$25,799
18
7-10 Americans live ______________.
on their own
Paycheck to Paycheck
in a house
in wealth and out of debt
