Show:
Vocabulary
Budgeting Basics
Managing Time
Dave Ramsey
Misc.
100

Task that you are required to do.

Responsibility

100

Develop financial ________-________ to manage money.

Self control

100

What is procrastination?

Putting off doing something until later.

100

What are two examples of what would be included in a transportation budget?

Gas

Public transportation  

Car payment 

Routine maintenance 

100

What should you focus on first in you budget? Needs or Wants

Needs

200

Trying to accomplish too many things in a limited amount of time.

Over Scheduling

200

What is a balanced budget?

Income=expenses

200

What should you use to plan a schedule for each day?

To-do list

200

What should you begin with when creating a monthly budget? What comes next?

FIRST identify your income, THEN make room for giving and saving...THEN you cover your expenses. 

200

What are the expenses that do not vary in amount? Give 1 example. 

Fixed expenses 

Rent, car payment, insurance 

300

Keeping track of the tasks you need and want to accomplish and making sure you get them all done in a timely way.  

Task Management

300

What two things must you examine to manage your money more effectively?

Goals 

Priorities

300

Name two time traps.

procrastinating

over scheduling

300

What are 2 ways to persue a debt-free degree?

Apply for as many scholarships and grants as you can.

Choose an affordable state university that offers you the most financial aid.

Commit to working a part-time job when you’re not in class.

Live off campus or continue living at home with your parents while you go to school.

300

What are the expenses that vary and are less predictable? Give 1 example. 

Flexible expenses 

Water bill, electric bill, gas 

400

A plan for spending and saving money.

Budget

400

What two things affect the way people manage money.

Personality 

Attitude

400

What is the key to managing leisure time?

Finding a balance between relaxing and responsibilities.

400

What are the 4 walls of a budget? 

Food

Utilities

Shelter

Transportation

400

What year did Mrs. Vines graduate high school?


1992/1993

500

Overlap tasks to save time.

Dovetailing

500

Name 3 of the four things that the notes say on what managing your money allows you to do.

Live within your means

meet goals to purchase special items

prepare for financial emergencies

Gain and maintain a sense of financial peace

500

Name 4 of the 6 time-tested strategies in using your time wisely.

preparation

organization

allowing enough time

dovetailing activities

being realistic

being flexible

500

What are the 7 baby steps? 

  1. Save $1,000 for your starter emergency fund.
  2. Pay off all debt (except the house) using the debt snowball.
  3. Save 3–6 months of expenses in a fully funded emergency fund.
  4. Invest 15% of your household income in retirement.
  5. Save for your children’s college fund.
  6. Pay off your home early.
  7. Build wealth and give.
500
What are Mrs. Vines' horses names? 

Rango and Merlin