Chapter 3 - Budgeting (Dave Ramsey)

Expenses that remain the same from month to month.

Non-essential expenses.

Having more than one bank account is never a good idea since it can complicate money management.

The zero-based budget is the best method of budgeting because:

ʺPay yourself firstʺ means you should assign a portion of your income to saving and investing every month.

Groceries are a: Fixed expense, Variable expense, Discretionary expense, Intermittent expense

If you write a zero-based budget every month, it is not necessary to reconcile your account.

Which of the following is something that a typical millionaire would do? Lease a new car, Spend less money than he or she makes, Replace things that are not broken, Carry debt

Online bill pay allows you to make payments to whomever you wish without having to write a check and send it in the mail.

Which of the following account records would have the most current balance? Account balance statement from the ATM, Your own account register, Your monthly bank statement, All of these records will have accurate account balances