Chapter 1 Video Test

Question 1

Baby step 1

Answer 1

1,000 in emergency fund or 500 if make 20,000 a year

Question 2

Baby step 2

Answer 2

Pay off all debt except the house utilizing the debt snowball.

Question 3

Baby step 3

Answer 3

3-6 month expenses in savings.

Question 4

Baby step 4

Answer 4

Invest 15% of households income into Roth IRAS and pre-tax retirement plans.

Question 5

Baby step 5

Answer 5

College funding

Question 6

Baby step 6

Answer 6

Pay off your home early

Question 7

Baby step 7

Answer 7

Built wealth and give!

Question 8

Seven baby steps

Answer 8

Are the steps you should take to reach financial peace.

Question 9

United States savings rate

Answer 9

-5 %

Question 10

3 basic reason for saving money

Answer 10

1. Emergency fund
2. Purchase
3. Wealth building

Question 11

Money market

Answer 11

Interest banking link to credit account to help you keep your money
.

Question 12

Sinking fund

Answer 12

Savings same as emergency fund but that’s for every month expenses

Question 13

Discipline is

Answer 13

Key ingredient when it comes to wealth building

Question 14

Pre auto checking PACS

Answer 14

Withdrawals are good way to build in discipline.

Question 15

Compound interest

Answer 15

Is interest paid in interest previously earned