Ramsey Classroom Final Review Chapters 1 to 3

You should always make sure you have a...

• Credit Card

• Credit Score

• Budget

• Second Job

What is the First Foundation?

• Open a checking account

• Save a $500 emergency fund

• Build Wealth and Give

• Pay cash for college

Personal Finance is all the financial decisions a(n)_______must make in order to earn, budget, save, spend, and give money over time.

• Individual or family

• Company

• Individual or company

• Bank

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

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

• Less than

• The same as

• More than

• Exactly 20% below what

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.3

CCSS.RI.9-10.3

CCSS.RI.9-10.5

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

• Assets

• Previous net worth

• Net income

• Other liabilities

If your assets total more than your liabilities, you will have a(n)______net worth.

• Unknown

• Equal

• Positive

• Negative

Tags

CCSS.6.NS.C.5

What does living paycheck to paycheck mean?

• Living paycheck to paycheck means they don't save any of their paycheck

• When a person chooses to not deposit their paycheck

• Living paycheck to paycheck is when someone eagerly awaits their next paycheck to plan for the month's expenses

• Living paycheck to paycheck means someone who is not happy unless its payday

Tags

CCSS.RI.11-12.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RL.11-12.4

CCSS.RL.9-10.4

In 1972, what association make borrowing money to attend college much easier than it had been?

• The Student Federal Funding Associtation

• The Federal Student Approval Association

• The Student Loan Apporvol Association

• The Student Loan Marketing Association

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

When you set financial goals, they should be...

• Specific, measurable, time-sensitive, yours, and written

• Timely, bank-based, specific, and yours

• Specific and measurable

• Only long term goals

Personal Finance is 20%______and 80%_______.

• Head knowledge; behavior

• Behavior; Head knowledge

• Cause; Effect

• Reactions; behaviors

Tags

CCSS.RI.8.2

CCSS.RL.11-12.2

CCSS.RL.7.1

CCSS.RL.8.1

CCSS.RL.9-10.2