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

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1.
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.
2.
To fully fund an emergency fund, you need to save at least _______ months of living expenses.
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Three to six. To fully fund an emergency fund, you need to save at least this much -- some advisors suggest even more.
3.
Retirement is an example of what type of goal?
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Long-term goal. Retirement is an example of a long-term goal that will take years to achieve.
4.
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.
5.
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.