Question

Dave's 80/20 rule says that personal finance is 80% knowledge and 20% behavior

a. true
b. false

Answer 1

Dave Ramsey's rule suggests that personal finance is actually 80% behavior and 20% knowledge, making the statement false.

Step-by-step explanation:

The statement that Dave's 80/20 rule says that personal finance is 80% knowledge and 20% behavior is false. The actual rule often referred to in the context of personal finance is Dave Ramsey's principle that personal finance is 80% behavior and 20% head knowledge. This suggests that the majority of financial success comes from how you behave with the money—namely, your spending habits, saving discipline, and investment choices—rather than just having a head full of financial facts and figures.