Dave ramsey
The first foundation is to have a _____ dollar emergency fund.
what is 500?
this is the main tax document for most jobs.
what is, W-4?
This type of financial institution is member-owned and non-profit, often offering lower interest rates on loans than traditional big banks.
What is a Credit Union?
This three-digit number, ranging from 300 to 850, is used by lenders to determine your creditworthiness and how likely you are to pay back a loan.
What is a FICO-Score/Credit-Score?
This is a legal contract between a tenant and a landlord that outlines the terms of renting a property, including the monthly cost and duration of the stay.
What is a Lease?
dave Ramsey says to take car loans out. true or false?
false
in a non-profit, you will get a _____ instead of a ______.
400B, 401k
In stock market terms, this "animal" represents a market where prices are rising and investor confidence is high, why?
This government agency is responsible for collecting taxes and enforcing internal revenue laws.
What is the IRS (Internal Revenue Service)?
These are the monthly expenses for basic services like electricity, water, heating, and trash collection.
What are Utilities?
dave Ramsey recommends to get out of debt in this foundation.
what is, the second foundation?
why doesn't a debit card build your credit score?
because you aren't borrowing money.
This is the name for the interest you earn on both your original principal and the interest that has already accumulated.
What is Compound Interest?
This term describes a general increase in prices and a fall in the purchasing value of money—meaning your $5 bill buys less today than it did last year.
What is Inflation?
This is the one-time, upfront payment made to a landlord to cover potential damages to a rental property, which is usually returned when you move out.
What is a Security Deposit?
these are the four types of investments:
antiques, house, real estate, retirement accounts
Unlike a credit card, which is a revolving line of credit, this type of "closed-end" loan is for a specific amount and must be paid back in equal monthly installments over a set period.
What is an Installment Loan? (e.g., a car loan or student loan).
This specific type of retirement account allows you to contribute "after-tax" money, meaning your withdrawals during retirement are typically tax-free.
you can contribute $______.
Roth IRA, 7500
This is the "cost of borrowing money," expressed as a percentage (APR), which you pay to a lender in addition to the original amount borrowed.
What is Interest?
When buying a car, this term refers to the decrease in the vehicle's value over time due to wear and tear.
What is Depreciation?
this was the main personality on the Dave Ramsey videos we watched.
who is, George kamel?
In the popular 50/30/20 budgeting rule, these are the three specific categories that your net income should be divided into.
What are Needs (50%), Wants (30%), and Savings/Debt Repayment (20%)?
Most cryptocurrencies operate on this decentralized, digital ledger technology that records transactions across many computers.
What is Blockchain?
This type of illegal investment scam lures in new investors by promising high returns, but actually uses money from new members to pay off older ones.
What is a Ponzi Scheme?
If you buy a home with less than a 20% down payment, lenders often require you to pay for this type of insurance to protect them if you stop making payments.
What is PMI (Private Mortgage Insurance)?