Financial Planning Courses: Lifestyle Planning/Setting Financial Goals

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1.
Recognizing your emotional triggers is important in personal finance because _______.
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It helps you predict the financial decisions you will make.
2.
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.
3.
An apprenticeship program is a form of education generally associated with what industry?
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Skilled trades. Skilled trades include jobs like carpentry, electrical, plumbing, and masonry, just to name a few.
4.
Financial _______ occur when you choose to spend money on a want versus a need.
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Tradeoffs. Tradeoffs occur because you forego the opportunity to take care of other financial needs you have when you spend money on wants.
5.
The amount you should consider keeping in an emergency fund should cover _______.
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3-6 months of expenses. This is a good rule of thumb. If you lost your job this would give you an opportunity to find a new job and ensure you could cover your living expenses for 3-6 months.