Dave Ramsey
Chapter 7 Vocabulary
Active | Money is very active... it is always moving and can be utilized in many ways. | ATM Card | Automated Teller Machine card which allows you to make transactions in Automated Teller Machines. | Budget | A cash flow plan. Every dollar you make is assigned to a specific category / expense at the beginning of each month or pay period. | Carbon Checks | Checks that have a second copy behind them made of special paper which makes a copy of each check as you write them. | Currency | Money. | Debit Card | A type of card (often backed up by a major credit card company) that is issued by a bank and used to make purchases. Unlike a credit card, the money comes directly out of the user's checking account. (Also called a "Check Card".) | Discipline | Self-control used in directing behavior. The key to wealth building is being consistent (self-disciplined) over time. | Envelope System | A series of envelopes, divided into pre-determined categories, used to store cash for planned monthly expenses. This is a self-imposed discipline tool to help people manage their monthly finances. Possible categories include food, entertainment, gas, etc. | Hoarding | Collecting unneeded items or much more than necessary and then guarding them. | Impulse Purchase | To buy an item without thinking about it. | Persistent | Refusing to give up. | Pro-active | Controlling a situation by causing something to happen rather than waiting to respond to it after it happens. This takes a strong initiative. | Procrastinate | To put off until later; waiting until the last minute. | Reconcile | To match your bank statement with your checkbook, preferably within 72 hours of receiving the statement. | Zero-based Budget | Cash flow plan that assigns an expense to every dollar of one's income: (total income) - (total expenses) = zero. | 1. Money is very active. 2. Automated Teller Machine card which allows you to make transactions. 3. Budget
Active | Money is very active... it is always moving and can be utilized in many ways. | ATM Card | Automated Teller Machine card which allows you to make transactions in Automated Teller Machines. | Budget | A cash flow plan. Every dollar you make is assigned to a specific category / expense at the beginning of each month or pay period. | Carbon Checks | Checks that have a second copy behind them made of special paper which makes a copy of each check as you write them. | Currency | Money. | Debit Card | A type of card (often backed up by a major credit card company) that is issued by a bank and used to make purchases. Unlike a credit card, the money comes directly out of the user's checking account. (Also called a "Check Card".) | Discipline | Self-control used in directing behavior. The key to wealth building is being consistent (self-disciplined) over time. | Envelope System | A series of envelopes, divided into pre-determined categories, used to store cash for planned monthly expenses. This is a self-imposed discipline tool to help people manage their monthly finances. Possible categories include food, entertainment, gas, etc. | Hoarding | Collecting unneeded items or much more than necessary and then guarding them. | Impulse Purchase | To buy an item without thinking about it. | Persistent | Refusing to give up. | Pro-active | Controlling a situation by causing something to happen rather than waiting to respond to it after it happens. This takes a strong initiative. | Procrastinate | To put off until later; waiting until the last minute. | Reconcile | To match your bank statement with your checkbook, preferably within 72 hours of receiving the statement. | Zero-based Budget | Cash flow plan that assigns an expense to every dollar of one's income: (total income) - (total expenses) = zero. | 1. Money is very active. 2. Automated Teller Machine card which allows you to make transactions. 3. Budget