Various Ways to Transfer Money out of a Checking Account
What is electronic transfer, checks, credit/debit card
100
A lender can only legally discriminate based off of _____
What is credit history
100
When shortening the payment period on a loan, the monthly payment will be ______
What is higher
100
The borrower is slave to the lender
What is Proverbs 22:7
200
Cost of a decision measured by the value of the next best alternative
What is opportunity cost
200
The formula for calculating net worth
What is
Assets - Liabilities = Net Worth
200
New cars typically lose _____% of their value in the first year
What is 25
200
PITI
What is Principle Interest Tax Insurance
200
The most important baby step
What is build wealth and give it away
300
The fundamental concept behind an economic system
What is scarcity
300
Define
Regressive Tax
Progressive Tax
Sales Tax
What is
-All are taxed the same
-Tax based off one's ability to pay (income)
-Tax based of off consumption financed by income
300
Difference between a secured and unsecured loan
What is collateral/cosigner
300
Three factors that effect mortgage payment
What are amount borrowed, length of loan, interest rate
300
Sharon
What is Dave Ramsey's Wife
400
How the US Government measures inflation.
What is CPI
400
The most useful financial statements
What is cash flow statement/ balance sheets
400
Credit Card grace period
What is time between purchase and payment date where no interest is accrued
400
Benefits of owning a home
What are forced savings plan, inflation hedge, grows interest free
400
Who is the most handsome person in class
What is Joel Mefford
500
The Six Biblical Purposes of Money
What is
-God/Tithe
-Government/Taxes
-Family/Provision
-Others/Charity
-Debt
-Savings
500
Demand Deposit vs. Time Deposit
What is
no to very low interest vs. minimum interest or more interest with time requirement
500
Costs associated with leasing a car
What are disposition fees, excess mileage charge, early termination charge, monthly payment
500
A payment to stockholders of common or preferred stock four times a year
What is a dividend
500
The Seven Baby Steps
What is
-1,000 Emergency Fund
-Pay off Debt using Debt Snowball
-Fully Fund Emergency Fund (3-6 months)
-Invest 15% in Retirement Account
-Start College Fund
-Pay off Mortgage
-Build Wealth and Give it Away