Needs & Wants
Food, housing, and transportation fall into this category.
What are needs?
Money left after taxes are taken out.
What is net income?
Buying something without planning is called this.
What is impulse buying?
A credit card is not free money; it is this.
What is debt?
Baby Step 2 focuses on paying off this.
What is debt?
The newest iPhone upgrade is usually considered this.
What is a want?
FICA stands for these two federal programs.
What are social security and medicare?
Comparing prices before purchasing shows this wise financial habit.
What is comparison shopping?
Missing payments lowers your credit score because it affects this factor most.
What is payment history?
The method of paying smallest debt first is called this.
What is debt snowball?
Spending money on wants before covering necessities shows a lack of this.
What is self-control (discipline)?
* DAILY DOUBLE *
This form determines how much federal income tax is withheld.
What is a W-4 form?
A zero-based budget gives every dollar this.
What is a job (or assignment)?
This document lists your credit accounts and payment history.
What is a credit report?
Living like no one else now so later you can live like no one else describes this mindset.
What is sacrifice (or delayed gratification)?
Dave Ramsey teaches that confusing wants for needs leads to this financial problem.
What is debt (or financial stress)?
The more allowances claimed on your W-4, the ______ tax withheld.
What is less?
Using cash envelopes is part of this budgeting method.
What is the envelope system?
Closing old accounts can hurt your score because it affects this.
What is length of credit history?
Dave Ramsey says personal finance is 80% this and 20% head knowledge.
What is behavior?
A written plan that helps prioritize needs over wants.
What is a budget?
This tax funds state-level programs and varies by state.
What is state income tax?
Delaying purchases for 24 hours helps avoid this behavior.
What is impulse spending?
* DAILY DOUBLE *
According to Ramsey, building wealth does NOT require this three-digit number.
What is a credit score?
The long-term goal of the Baby Steps is achieving this status.
What is financial freedom (or becoming debt-free and wealthy)?