stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Ch. 3 Budgeting (Dave Ramsey) Flashcards | StudBud
Explore
/
Ch. 3 Budgeting (Dave Ramsey)
Ch. 3 Budgeting (Dave Ramsey)
20 terms
·
StudBud Administration
·
967 plays
Dave Ramsey Chapter 3 #daveramsey #budget
Flashcards
20 cards
F
Practice quiz
P
Host live
L
Questions
20
Answers
1
Your monthly budget should include:
Only income
Both fixed & variable expenses
Fixed expenses
Variable expenses
2
Cash flow plan that assigns an expense to every dollar of income.
Income
-
Expenses
=
Zero
Named budget
Budget
Zero-based budget
3
Reasons people avoid writing budgets:
Never had one that worked
Straightjacket connotation
All of the above
ABUSE them
4
Groceries are a
Discretionary expense
Variable expense
Fixed expense
Intermittent expense
5
A zero based budget has zero expenses.
True
False
6
Car repairs are a:
Discretionary expense
Intermittent expense
Fixed expense
Variable expense
7
The envelope system works for managing spending on things that aren't a fixed monthly expense
True
False
8
A zero based budget has more outgo than income.
False
True
9
The zero-based budget is the best method of budgeting because:
It ensures that every dollar you make is assigned a purpose
Sticking to a zero-based budget requires less discipline
A zero-based budget allows less money for wants
This type of budget is less complicated
10
Rent or a mortgage is a:
Fixed expense
Discretionary expense
Intermittent expense
Variable Expense
11
Eating out is a
Discretionary expense
Fixed expense
Intermittent expense
Variable expense
12
A written plan for saving and spending
Cash flow statement
Envelope system
Budget
13
If you pay $1,200 a year for car insurance, how much should you budget monthly for it?
$1,200
$100
$50
$600
14
A written budget, if followed, removes _________ from your finances
Overspending
Management by crisis
All of the above
Guilt
15
Which is something that a typical millionaire WOULD DO
Lease a new car
Spend less money that he or she makes
Replace things that are not broken
Carry debt
16
The number-one cause of divorce in North America today is stress and disagreements over money
True
False
17
"Pay yourself first" means you should assign a portion of your income to saving & investing.
False
True
18
Budgeting is crucial to your financial success
False
True
19
Doing a budget does not:
Make overspending more likely
Show if you are overspending
Make your money go further
Remove guilt and shame
20
Following a zero based budget will help you avoid overspending and impulse purchases.
True
False
