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1.
Which of the following is not a tax benefit of having children?
Household employer status. As a household employer, you are responsible for paying withholding, Social Security, and unemployment taxes on caregivers who work in your home.
2.
In order for your personal financial plan to succeed, your life goals need to stay the same.
False. A good lifestyle financial plan allows your goals to change and keeps up with them.
3.
The lifestyle financial plan is how you will acquire wealth over your lifetime.
False. The lifestyle financial plan is how you will acquire the money necessary for each of your goals.
4.
Lifestyle planning focuses on _______.
Maximizing happiness. Lifestyle financial planning focuses on maximizing the individual's happiness.
5.
When choosing housing on a budget, all are important considerations except _______.
Prestige. While prestige might be important for social reasons (keeping up with the Joneses), it is less important for budgetary concerns.