Five Foundations
What is cash?
Shelter, utilities, transportation, and food.
What are the four walls?
The age you can stay on your parents insurance until.
What is 26?
The initial amount of money you deposit or invest.
What is the principal?
Get out of debt and stay out of debt.
What is the second foundation?
Two categories of spending personalities
What is a saver and spender?
Expenses that stay the same each month.
What are fixed expenses?
Purchasing an item but later wishing you hadn't purchased the item.
What is debt?
The type of budget recommended by Ramsey.
What is a zero based budget?
Insurance that extends liability coverage over your car and your home.
What is umbrella policy?
The average rate of growth for an investment over time.
What is compound growth?
The basic concept of the fifth foundation.
What is generosity?
Income that fluctuates month to month.
What is irregular income?
Where money comes from
What is work?
Someone who doesn't have a bank account.
What is unbanked?
Cash can used to pay for this in the fourth foundation
What is college?
The additional cost a lender charges for borrowing their money.
What is interest?
The most powerful wealth-building tool.
What is your income?
What is a credit score?