Three Basic Reasons to Save Money
The Five Foundations
Compound Interest
Misc.
100

It is false that most Americans do this with their savings.

What is having a high savings rate, or saving their money properly?

100

This is the first step, or the first foundation to savings and building wealth.

What is saving $500 for an emergency fund?

100

This is the addition of interest to the principal sum of a loan or deposit, or in other words,interest on interest.

What is compound interest?

100

First thing you save for.  You need it in case of a rainy day.

What is your emergency fund?

200

These are the three reasons that you need to start saving.

What are emergency funds, purchases, and wealth building?

200

This is the second foundation to saving and building wealth.

What is getting out of debt?

200

What two things do I need to consider when evaluating the time value of money?  

Interest Rate, Inflation, 

200

The second foundation is to pay off all your debt.  Mr. Nichols instead encourages his students to

What is "not get into debt?"

300

It is true that you should not use this fund for frivolous expenses.

What is your emergency fund?

300

According to Dave Ramsey, this is the third foundation.

What is paying cash for your car?

300

Percentage paid to a lender for the use of borrowed money; percentage earned on invested principal.

What is Interest Rate?

300

Don't go into debt over this item, especially because it depreciates (loses value) over time.  

What is a vehicle?

400

This is not a key factor in saving money for yourself. 

Income.

400

Building wealth is a ________ not a ________

What is "marathon not a sprint?"

400

Double Jeopardy: This is the persistent rise of the cost of goods and services. This also contributes to an increasing money amount in future investments.

What is inflation?

400

Your greatest wealth building tool.

What is your income?

500

This is the fund that you build over time for a large purchase in your future.

What is a sinking fund?

500

Double Jeopardy: According to Dave Ramsey, saving money is not difficult if I make it a priority.  Saving money is about ___________ and _____________.  

What is building wealth and giving? And what is contentment and emotion?

500

These are the two most important things that contribute to savings and compound interest in an investment. 

What are the rate of return and the amount of time, or the time value of money?

500

3-6 months of expenses

What is a fully funded emergency fund?

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