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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.
Your financial goals should be specific. Which of the following is the most specific goal?
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I will save $1,000 for a Chevy Malibu. Of all the choices, this one is the most specific.
3.
What is one reason why it is helpful to understand your personal values in financial planning?
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Values help predict your future financial behavior.
4.
Ideally, when it comes to taking out student loans, you want to borrow _______.
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As little as possible. Student loan money must be paid back with interest, so ideally you want to borrow as little as possible.
5.
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.