Dave Ramsey Ch. 1 Personal Finance Test Review

Front

Making the right choices with your money—managing your money—involves knowing how . . .

Back

Earning, budgeting, saving, spending, and giving affect your money

Front

You should always make sure you have a…

Back

Budget

Front

To gain an understanding of your personal finances, you should know . . .

Back

Where you stand financially, how much income you have, what goals you want to set, and how you’ll reach those goals

Front

What is The First Foundation?

Back

Save a $500 emergency fund.

Front

Being a spender has many more positives than being a saver.

Back

False

Front

A money principle to keep in mind is to live on________you make.

Back

Less than

Front

To know your net worth, subtract your liabilities from your _______.

Back

Assets

Front

What is financial literacy?

Back

The knowledge and skill base necessary for people to be informed consumers and manage their finances effectively.

Front

What are The Five Foundations?

Back

A personal financial action plan

Front

As a single adult, you should . . .

Back

Keep managing your money as a priority