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Financial Planning Courses: Lifestyle Planning/Setting Financial Goals

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1.
Emotions lead to _______ in our financial lives.
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Either good or bad choices. Emotions can lead us in many different directions. But negative emotions like envy get a lot of attention because they can lead to unhealthy choices.
2.
Financial _______ occur when you choose to spend money on a want versus a need.
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Tradeoffs. Tradeoffs occur because you forego the opportunity to take care of other financial needs you have when you spend money on wants.
3.
An apprenticeship is typically done for _______.
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A skilled trade. Apprenticeships are associated with skilled trades, though in some cases they can be done in college.
4.
Most financial planners and advisers recommend that we break our financial goals into what types?
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Short, intermediate, and long-term. Although the other options are worth considering and should fit into our financial planning anyway, the primary ones should be short, intermediate, and long-term.
5.
When you are young and just starting out, it is wiser to spend your money on _______.
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Needs. Needs tend to be less expensive. Wants tend to be more luxurious and are perhaps best purchased when you are more settled.