Chapter 1 Review: Dave Ramsey Middle School Edition

What percentage of personal finance is behavior?

• 10%

• 20%

• 80%

• 90%

Debt is owing money to anyone for any reason.

• True

• False

What percentage of personal finance is head knowledge?

• 80%

• 20%

• 30%

• 50%

Whenever you receive money as a gift or for work, take _______ and put it away for savings.

• All of it

• None of it

• Some of it

• Exactly 90%

Investments are things that are purchased with an expectation that they will _______.

• Grow too slowly

• Diminish in results

• Decrease over time

• Grow in value

_______ on credit is a fee you pay on top of the money you already owe.

• Interest

• Mortgage

• Savings

• Equity

A debit card only allows you to use the money you _______ in the bank.

• Already have

• Could have

• Don't have

• Still need

It’s important to have a(n) _______ for what you’re going to do with your money.

• Wish

• Idea

• Plan

• Desire

This plan for your money is called a(n) _______.

• Lesson

• Organizer

• Schedule

• Budget

Using a credit card means you _______ to buy stuff.

• Barter clothing

• Use Debt

• Use cash

• Never decide