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Financial Planning Courses: Lifestyle Planning/Setting Financial Goals

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1.
When comparing needs and wants, which of the two is likely to be more practical and basic?
Choose wisely. There is only one correct answer.
Need. Needs by their nature tend to be more practical and basic, while wants tend to be the opposite.
2.
You should consider revising your goals if _______.
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Your income increases or your income decreases. If your income changes at all, you may need to cut the amount you are saving or have the opportunity to save more.
3.
Student loan money should be used to cover the following types of expenses:
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School expenses. Student loan money is money borrowed and should only be used on necessary expenses. Cable and wants generally are not necessary expenses.
4.
The ability to resist immediate rewards in favor of a greater reward in the future is called _______.
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Delayed gratification. This ability is essential for good financial planning.
5.
A financial goal should be attainable if you have any hope of it coming true. This means that you need to be able to take concrete steps to make it happen.
Choose wisely. There is only one correct answer.
True. As opposed to goals that are too expensive or hard to achieve, an attainable goal is one that you can take steps to make happen.