Money in the Real World
This is a plan for how you spend and save your money.
What is a Budget?
This fund helps you cover unexpected expenses without using credit.
What is an Emergency Fund?
This type of budget gives every dollar a job.
What is Zero Based Budget?
Dave Ramsey says to avoid this plastic card completely.
What is a Credit Card?
This is what advertising is designed to make you do.
What is Buy Something?
The _________ is slave to the _________
What is The BORROWER is slave to the LENDER?
This powerful principle makes your money grow over time.
What is Compound Interest?
Rent or car payments are examples of this type of expense.
What is a Fixed Expense?
This number is supposed to measure how likely you are to repay debt.
What is Credit Score?
When a famous person promotes a product, it’s called this.
What is an endorsement?
The percentage of principal charged by the lender for use of its money.
What is Interest Rate?
When creating your monthly budget, this is the first priority under "Expenses".
What is Giving?
This system uses a common household item to help you control spending.
What is the Envelope Method?
What is Annual Percentage Rate?
One of Ramsey’s five steps to smart buying is to wait this long before making a big purchase.
What is 24 Hours?
44% of Americans report they have less than $_______ in savings.
What is $1,000?
According to Ramsey, these are the three reasons to save: emergencies, purchases, and _________.
What is Wealth Building?
"A budget doesn't limit your freedom- it gives you ___________ to spend money on what you want."
What is Freedom?
This is the amount of money you originally borrow from a lender.
What is Principal?
Appreciating who you are and what you have.
What is Contentment?
The name for the amount of a person's assets minus a person's liabilities.
What is Net Worth?
Name the 5 Foundations.
What is...
1- Save $500
2- Get out/Stay out of debt
3- Pay cash for car
4- Pay cash for college
5- Build & give wealth
According to Ramsey, these are the “four walls” you should pay first.
What are food, utilities, housing, and transportation?
A loan backed by something you own, like a car, is known as this type of loan.
What is Secured Loan?
The term to describe the following concept: If you say yes to something now, you'll have to say no to something else.
What is Opportunity Cost?