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Planning Beginner:
Create a Financial Action Plan--Keep It Simple
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Choose wisely. There is only one correct answer to each question.
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1.
"Monitoring" your financial plan means _______.
Choose wisely. There is only one correct answer.
Setting reminders and checking in on it
Carrying out the steps in it
Writing down your financial goals
Setting reminders and checking in on it. This step exists to make sure you are on track.
2.
What is in a typical financial action plan?
Choose wisely. There is only one correct answer.
A retirement plan
A set of goals and the steps needed to achieve them
Your income
None of the above
A set of goals and the steps needed to achieve them. At the barest minimum, this is what it includes.
3.
A financial goal that you set might fail because it was _______.
Choose wisely. There is only one correct answer.
Interrupted
Unrealistic
Not specific enough
Any of the above
Any of the above. These are all things that sabotage one's efforts. That's why clear goal-setting is needed.
4.
Once you have made a financial plan, _______.
Choose wisely. There is only one correct answer.
It is set and you don't have to change it
You must review it and change it if necessary
It will be self-correcting
You must review it and change it if necessary. Plans are not set in stone, and neither are they self-correcting; you must revise them over time.
5.
There are professional financial planning sources that can help you write a financial action plan. Which of the following do they include?
Choose wisely. There is only one correct answer.
Professional financial planners
Employee assistance programs
Your bank or credit union
All of the above
All of the above. You can find financial planners in many different capacities.
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