Strategy Beginner: Saving for Short, Mid and Long-Term Goals

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1.
What is one mid-term savings goal?
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Buying a new car. Buying a new car is a mid-term savings goal.
2.
What is one important long-term savings goal?
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Saving for a college education. One important long-term savings goal is saving for a childs college education.
3.
One type of mid-term savings vehicle you can use to meet a mid-term savings goal is a(n) _______.
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Balanced mutual fund. You can use this to meet a mid-term savings goal.
4.
When establishing short-term savings goals, its a good idea to set up a separate account to save money for that goal.
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True. When you set up a separate account for a short-term savings goal, that goal is more likely to be met.
5.
Different types of goals can be met with different savings vehicles.
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True. Different types of goals can be met with different savings vehicles.