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Dave Ramsey Savings
| Question | Answer |
|---|---|
| Baby Step 1 is _______ in an emergency fund. If you make under $20,000 a year, put _________ in an emergency fund. | $1,000; $500 |
| _____________ must become a priority. Always pay _____ first. | Saving; Yourself |
| The United States has a ___________ savings rate. | negative (-0.6%) |
| Saving money is about ____________ and ____________. | emotion; conentment |
| Money is ________________. | amoral |
| You should save money for three basic reasons: | 1) Emergencies 2) Purchases 3) Wealth Building |
| ______________ are going to happen. Count on it. | Emergencies |
| Baby Step 1, a beginner emergency fund, is __________ in the bank (or $500 if your household income is below $20,000 per year). | $1000 |
| A great place to keep your emergency fund is in a ________ account from a mutual fund company. | money market |
| Your emergency fund is not an ___________, it is insurance. | investment |
| Do not ________ this for purchases. | touch |
| The emergency fund is your ____________ savings priority. Do it quickly! | first |
| The second thing you save money for is _____________. | purchases |
| Instead of ____________ to purchase, pay cash by using a _________ approach. | borrowing; sinking fund |
| The third thing you save money for is ______________. | wealth building |
| _______________ is a key ingredient when it comes to wealth building. | Discipline |
| Building wealth is a _____________, not a sprint. | marathon |
| Pre-________________ _______________(PACs) withdrawals are a good way to build in discipline. | authorized checking |
| ____________ ____________ is a mathematical explosion. You must start _______. | Compound interest; now |
| Rate of Return, or _________________ rate, is important. | interest |
| Equation for compound interest | FV=PV(1+r/m)^mt |
| _____ of consumers live paycheck to paycheck. | 70% |
| The United States has a _____ savings rate. | -.6% |
| Only ______ of Americans save regularly. | 41% |
| ____ of American households live on less than _____ a year. | Half; $46,326 |
| _____ of workers who make over $100,000 live paycheck to paycheck. | 19% |
| ____ of teens agree “it’s important to me to have a lot of money in my life.” | 81% |
| Only ___ of teens say they know how to invest money to make it grow. | 22% |
| ____ of teens have some money saved, with an average of _____ | 84%; $1,044. |
| ____ teens agree that since they are young, saving money isn’t that important. | 1 in 4 (24%) |
Created by:
OcelotKnight
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