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Basics Beginner: Personal Finance Basics

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1.
Saving tiny amounts of money periodically is a nice idea, but is not practical.
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False. Saving small amounts periodically can be done by setting them aside and putting them into a savings or investment account, and they can grow substantially over many years.
2.
An investment plan for an upcoming expense typically calls for a different approach than does planning for an expense several years down the road.
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True. The difference in time horizons allows for different investment approaches.
3.
To keep on track with your financial goals, you can measure them periodically.
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True. With a measurement system, you can adjust the way you are funding them.
4.
A financial goal that you set might fail because it was _______.
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Any of the above. These are all things that sabotage ones efforts. Thats why clear goal-setting is needed.
5.
Which of the following questions are essential to setting financial goals?
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All of the above. All are essential to setting realistic, clear, and concise financial goals.
DONE