Foundations
This is the first foundation--building a starter fund.
What is $500?
Money set aside for unexpected expenses.
What is an emergency fund?
Borrowing money from a lender to buy something today.
What is debt?
Most jobs will want this before interviewing you.
What is a resume?
Education that takes place after high school.
What is postsecondary education?
The total number of Ramsey’s Foundations.
What is five?
A plan for spending every dollar on paper before the month begins.
What is a zero-based budget?
This type of loan is commonly used to pay for higher education.
What is a student loan?
These are skills that are personality traits that either come naturally to you or are developed over time.
What are soft skills?
Financial aid that's based on the student's financial need and usually doesn't need to be paid back.
What is a grant?
This foundation involves paying with cash, not debt, for major purchases like cars.
What is pay cash for your car?
The envelope system helps manage this.
What is discretionary spending?
When you owe more on a car loan than the car is worth, you are said to be in this position.
What is upside down?
If you don't know what to wear to an interview, you should do this.
What is overdress (dress up)?
This is also referred to as a four-year college degree or an undergraduate degree.
What is a bachelor's degree?
This foundation encourages avoiding borrowing for higher education.
What is pay cash for college?
The habit of paying yourself first means doing this.
What is saving before spending?
This “myth” says you need one of these to build credit.
What is a credit card?
You need to do this to win the interview.
What is ask questions?
This usually takes less than two years to complete, teaches you the skills you need for that career, and are often tied to that region's employment needs.
What are Trade and Vocational Schools?
This foundation comes last, after wealth is built and debts are paid.
What is build wealth and give?
This is the mathematical term for money earning interest, then that interest earning more interest.
What is compound interest?
The percentage of income most Americans pay in interest to banks each year.
What is 25%?
This happens to those "Who walk with the wise."
What is grows wise?
This is the first thing you need to do to get intentional about your future.
What is dream?