Building the Basement
The First Foundation that every high school student should complete as quickly as possible.
What is a $500 emergency fund?
In the traditional African context, this term refers to rotational credit unions based on age-groups or geographic cohorts.
What are Djangis?
The persistent increase in the cost of goods and services or the decline in the purchasing power of money.
What is inflation?
This is the "antidote" for the poverty attitude of envy.
What is contentment?
The "uncomfortable place" where Dave Ramsey realized his money problems truly began and ended.
What is his mirror?
Once you are out of school, your emergency fund should grow to cover this many months of expenses.
What is three to six months?
The item Mr. Noren added to the very base of the modified Maslow’s Hierarchy of Needs.
What is WiFi?
Interest paid on interest previously earned.
What is compound interest?
This biblical "antidote" is recommended for those struggling with the attitude of survivalism.
What is Eternal or Abundant life?
The "sad reality" for most people in middle-class neighborhoods with manicured lawns and new cars.
What is struggling with debt?
Money set aside over time for large purchases instead of borrowing.
What is a sinking fund?
This poverty attitude is the belief that "it won’t work," leading to a lack of effort.
What is Fatalism?
The mathematical result of taking Assets and subtracting Liabilities.
What is Net Worth?
The Bible verse cited as the "secret to a successful business" regarding looking to the interests of others.
What is Philippians 2:3-4?
This historical event led New Deal policymakers to create mortgage and consumer lending policies.
What is the Great Depression?
The percentage of Americans who will experience a major negative financial event in any given 10-year period.
What is 78%?
A form of "wealth" consisting of favors, give-and-take relationships, and family/clan ties.
What is Social Capital?
The knowledge and skillset necessary to be an informed consumer and manage finances effectively.
The knowledge and skillset necessary to be an informed consumer and manage finances effectively.
This mindset focuses only on making it through today, often expressed as "eat and drink, for tomorrow we die."
What is survivalism?
The average amount of credit card debt held by an American family (among those who have it).
What is $7,886?
Personal finance is 20% head knowledge and 80% this.
What is behavior?
Financial organizations that offer interest rates lower than their service fees.
What are extractive banks?
The principle that a certain amount of money today has different buying power than the same amount in the future.
What is the Time Value of Money?
The specific antidote for the attitude of "Need/Want Confusion."
What is humility?
The reason a debt system that keeps Americans from achieving wealth exists as a major industry.
What is because it became profitable?