Dave Ramsey 1.2 Flashcard

Front

At age 26, what was Dave Ramsey's net worth?

Back

More than $1 Million.

Front

Are credit cards and car loans a great idea for most people?

Back

False.

Front

What is a key component of financial planning?

Back

Write out a detailed plan for accomplishing your goals.

Front

Who profits from interest on credit card debt?

Back

Credit card companies.

Front

Do most Americans today have financial security when they retire?

Back

False.

Front

What is the importance of replacing money myths with money truths?

Back

It helps in making informed financial decisions.

Front

What should you regularly do with your financial plan?

Back

Monitor and reassess it.

Front

What is a common misconception about wealth in America?

Back

That most Americans are wealthy.

Front

What role does a financial planner play in your financial decisions?

Back

They should guide you, but not make all decisions for you.

Front

What is the impact of credit card debt on personal finances?

Back

It can lead to significant financial strain due to high interest.