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