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Economics > Chapter 1 Dave Ramsey > Flashcards

Chapter 1 Dave Ramsey Flashcards

1
Q

Baby Step One

A

Save 1,000$ to start your emergency funds

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2
Q

Baby Step Two

A

Pay off all of your debts using snowball

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3
Q

Baby Step Four

A

Invest 15% of household income into ROTH IRAS

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4
Q

Baby Step Five

A

college funding

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5
Q

Baby StepSix

A

Pay off your home early

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6
Q

Baby Step Seven

A

Build wealth and give

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7
Q

How much do you invest if you make under 20,000 a year?

A

Invest 500$ monthly

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8
Q

Saving must become a ____________.

A

Priority

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9
Q

We must pay ___________ first.

A

Ourself

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10
Q

Saving money is about _____ and _________.

A

Peace and contentment

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11
Q

Building wealth is not evil or wrong because money is

A

Amoral

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12
Q

The only difference between saving and hoarding is _______.

A

Attitude

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13
Q

We should save for 3 basic reasons:

A

Emergency funds
Purchases
Wealth

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14
Q

Unexpected events do occur, so ________ them.

A

Expect

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15
Q

A great place to keep emergency fund is in a …

A

Money Market Account from a Mutual Fund Company

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16
Q

Emergency fund is not an investment but ______________.

A

Insurance

17
Q

Do not touch this fund for _________.

A

Purchases

18
Q

The emergency fund is your first

A

Savings priority

19
Q

Instead or Borrowing, pay cash by using a

A

Sinking Fund Approach

20
Q

Discipline is a key ingredient.

A

True dood

21
Q

Building wealth is a ___________ and not a ______.

A

Marathon not a sprint

22
Q

Just save 100$ a month every month from age 25-65 at 12% will build over 1,176,000$.

A

True

23
Q

Pre-Authorized checking withdrawals are a good way to build in __________.

A

Discipline

24
Q

Compound interest is a _________________ ____________.

A

Mathematical Explosion

Economics (1 decks)

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