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