Dave Ramsey-Chapter 1
Financial Peace School Curriculum Foundations in personal finance Martin's Mill ISD
Terms in this set (20)
Baby Step 1
$1000 in an emergency fund (or $500 if you make less than $20,000/year)
pay off all debt except house
3-6 months expenses in savings
Invest 15% of your household income into Roth IRA's and retirement
Pay off your home early
Build wealth and give!
interest that is earned on both the initial amount and the previously earned interest.
Savings is about
contentment and emotion.
savings must become a ____________.
saving money for a specific purpose to allow interest to work for you rather than against you.
does matter when making an investment.
When you pay cash
you can almost always negotiate a better deal.
place your emergency fund in this type of account.
Rate of Return
The percentage by which your money grosw is called the ____________________.
if something can go wrong it will.
withdrawals is a good way to build in discipline.
the state of owing something (especially money)