Emergency Fund
What is the minimum amount to save for an emergency fund?
$500
what is the first step to conquering debt?
Make a list of all your debts and go at them one by one?
How does Dave pronounce finance?
FinANce
what is Carnegie’s first rule?
Don’t criticize or condemn
If you can choose between a 15 year mortgage or 30 which do you choose?
15
What did Dave say to do with the emergency fund money?
Cash and hide it!
What is a balloon mortgage?
A home mortgage payment were you have very little interest in payment but then it can suddenly increase.
Where is Davecfrom?
Tennessee
What did Abe Lincoln do?
Wrote letter to general criticizing him didn’t mail it
Dave encourages you to pay with ———-
Why?
Less extra payments and hurts more
If I make $9,000 a year how much should I save in my emergency fund?
$500
Car payments are crazy, when you buy the newest version it’s value automatically decreases. Start small, save up, build up.
What is the name of Dave’s diaghter
Rachel Cruz
Who wrote the book?
Dale Carnegie
What example did Dave give when showing how kids get encouraged to go into debts
Barbie with credit card
Where did Dave specifically say in one of the episodes to NOT hide the money? And what was the scenario?
Underwear drawer, Pizza man
What should you do after you payed off all your debt?
Start a 3-6 month emergency fund.
What animal did Dave’s sister ride in the rodeo?
A goat
What was the example I gave on how criticizing is easy but not effective.
Counselor story
What is the Myth about credit card score?
That you need one to do well, it just gets you into a cycle of debt.
Who did Dave tell to NOT create an emergency fund?
nobody
Define the debt snowball
What is the name of Dave Ramseys wife
Sharon
What was the name of the general Abe didn’t condemn
What is an Adjustable Rate Mortgage and why was it created?
Can go up and down, created so banks can make more money off you in case market changes.