Financial Planning Courses: Lifestyle Planning/Setting Financial Goals

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1.
Your monthly budget should be adjusted _______.
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As needed to meet your needs and life situation. Budgets are rarely stable; they can and do change as your life situation changes.
2.
Your financial goals should be specific. Which of the following is the most specific goal?
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I will save $1,000 for a Chevy Malibu. Of all the choices, this one is the most specific.
3.
A financial goal should be attainable if you have any hope of it coming true. This means that you need to be able to take concrete steps to make it happen.
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True. As opposed to goals that are too expensive or hard to achieve, an attainable goal is one that you can take steps to make happen.
4.
Long-term financial goals are generally goals you want to achieve in 5-10 years.
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False. Long-term goals are 10 years or greater.
5.
Student loans are a form of free financial aid.
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False. This is money you borrowed and you're required to pay this back. You should try to and keep the amount borrowed at a level your future income can support.