Dave Ramsey Foundations in Personal Finance – Chapter 2 Video Terms

Emergency Save a $500 _________ Fund
Debt Get Out of ____
Cash Pay ____ for Your Car
College Pay Cash for _______
Wealth, Give Build ______ and ____
500 The First Foundation is ___ in an emergency fund.
parents When you’re in high school, you won’t have the same emergency expenses as your _______ (like needing to put a new roof on the house).
expenses An emergency fund allows you to have money available for any surprise ________.
debt If you don’t have money saved to pay for these things, then ____ will start looking like an easy answer.
never Debt _____ solves problems.
grow, six When you’re older and out of school, you’ll need to ____ your emergency fund into a full three to ___ months’ worth of expenses.
bank Make sure this money is kept in the ____ and that you ONLY use it for emergencies.
separate Keep your emergency fund in a ________ savings account away from your spending money.
Emergency, Purchases, Wealth Save Money for Three Basic Reasons:
Emergencies ___________ are going to happen.
purchases The second thing you save money for is __________.
borrowing, sinking Instead of _________ to purchase, pay cash by using a _______ fund approach.
wealth The third thing you save money for is ______ building.
Discipline __________ is the key ingredient when it comes to wealth building.
marathon Building wealth is a ________, not a sprint.
Compound interest ________ ________ is a mathematical explosion.
now You must start ___.

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