Baby Steps
What is the first Baby Step?
What is saving $1,000 for a starter emergency fund?
Ramsey strongly discourages people from having a certain type of debt for transportation. What is it?
What is a car loan?
hat tool does Dave Ramsey recommend using to track and manage your monthly expenses?
What is a budget?
At which Baby Step does Ramsey recommend beginning to save for retirement?
What is Baby Step 4?
Which is the preferred method to pay off debt?
What is the debt snowball?
What type of debt stays with you unless it is payed off or you pass away?
What is student loans?
Ramsey advocates for tracking every dollar. What is the name of his budgeting approach?
What is the zero-based budget?
Is it advised to invest more than, less than, or exactly 15% of your income toward retirement, according to Dave Ramsey?
What is exactly 15%?
What is the recommended amount for a fully funded emergency fund?
What is 3 to 6 months of expenses?
What makes the debt snowball better than the debt avalanche method?
What is a change in behavior and build up of momentum/small wins?
What are sinking funds, and how are they used?
What is saving for specific, upcoming expenses by setting aside a little each month?
What is Ramsey’s recommended investment type for long-term wealth building?
What is mutual funds?
How much should you invest towards retirement in Baby Step 4?
What is 15%
What is Dave Ramsey referring to when he says Plastic Surgery?
What is cut up credit cards?
What is the maximum loan term, and what percentage of take-home pay should the monthly payment not exceed?
What is a 15-year fixed-rate loan with a payment not exceeding 25% of take-home pay?
"In the multitude of counselors there is safety" comes from which book of the Bible?
What is Proverbs?
What are four methods to pay off your home mortgage early?
Make extra payments.
Bi-weekly payments.
Lump sum payment.
Refinance to lower rate.
You should have the same intensity as this animal mentioned in Proverbs 6:5, which says, "Deliver yourself like a ___ from the hunter’s hand."
What is a gazelle.
Describe the order of priority Ramsey recommends for investing your income for retirement.
What is to first invest up to company match in a 401(k). Contribute to Roth IRAs until maxed out, returning to 401(k) with any remaining up to 15%.
What is the recommended percentage of your nest egg that you can safely live off of annually?
What is 8%?