A Week Before
Dave says to have $500 in this as a teen in order to be ready for the unexpected.
What is an Emergency Fund? (Hint-The 1st of The Five Foundations)
The 2nd Foundation of The Five Foundations.
What is "Get Out of Debt"?
A good investment option (Dave Ramsey talks about these a lot).
What are mutual funds?
A necessary type of insurance.
What is...?
This is the part where Mrs. O checks the answer sheet ;-)
When to give. (When budgeting)
What is first?
Saving money over time for a large purchase.
What is a sinking fund?
The 3rd Foundation of The Five Foundations.
What is "Pay Cash for your Car"?
The 5th Foundation.
What is "Build Wealth & Give"?
What is communication? (Teamwork, consistency work too)
The amount of income left after taxes have been deducted.
What is net pay?
A written cash flow plan.
What is a budget?
The 4th Foundation of The Five Foundations.
What is "Pay Cash for College"?
One of the 7 Basic Rules of Negotiating.
What is...? (This is the part where Mrs. O. looks at her answer card.)
A legally enforceable declaration of how a person wishes his or her property to be distributed after death.
What is a will?
The federal government agency responsible for tax collection & tax law enforcement.
What is the IRS (Internal Revenue Service)?
A fee paid by a borrower to the lender for the use of borrowed money.
What is interest?
Money spent here cannot be spent there.
What is Opportunity Cost?
2 more of the 7 Rules of Negotiation
What is...? (This is the part where Mrs. O. looks at her answer card ;-) ....again!)
This is important to understand about yourself & others when it comes to relating with others about money.
What is your money personality?
The percentage of American households that give to charity.
What is 65%?
To match your bank statement with your checkbook.
What is reconcile?
The persistent increase in the cost of goods/services or the persistent decline in the buying power of money.
Who is inflation?
3 more Rules of Negotiation (out of the 7)
What is....? (This is the part where Mrs. O. looks at her answer card ;-) ....again!)
2 additional necessary types of insurance.
What is ..."
Mrs. O will check the answer sheet again for this one ;-)
A tax on consumption.
What is sales tax (or excise tax)?