Chapter 3 - Budgeting (Dave Ramsey)

Front

Expenses that remain the same from month to month.

Back

Fixed

Front

Non-essential expenses.

Back

Discretionary

Front

Having more than one bank account is never a good idea since it can complicate money management.

Back

False

Front

The zero-based budget is the best method of budgeting because:

Back

The zero-based budget ensures that every dollar you make is assigned a specific purpose.

Front

ʺPay yourself firstʺ means you should assign a portion of your income to saving and investing every month.

Back

True

Front

Groceries are a: Fixed expense, Variable expense, Discretionary expense, Intermittent expense

Back

Variable expense

Front

If you write a zero-based budget every month, it is not necessary to reconcile your account.

Back

False

Front

Which of the following is something that a typical millionaire would do? Lease a new car, Spend less money than he or she makes, Replace things that are not broken, Carry debt

Back

Spend less money than he or she makes

Front

Online bill pay allows you to make payments to whomever you wish without having to write a check and send it in the mail.

Back

True

Front

Which of the following account records would have the most current balance? Account balance statement from the ATM, Your own account register, Your monthly bank statement, All of these records will have accurate account balances

Back

Your own account register