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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 monthly budget should be adjusted _______.
Choose wisely. There is only one correct answer.
As needed to meet your needs and life situation. Budgets are rarely stable; they can and do change as your life situation changes.
3.
Student loans are a form of free financial aid.
Choose wisely. There is only one correct answer.
False. This is money you borrowed and you're required to pay this back. You should try to and keep the amount borrowed at a level your future income can support.
4.
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.
5.
Long-term financial goals are generally goals you want to achieve in 5-10 years.
Choose wisely. There is only one correct answer.
False. Long-term goals are 10 years or greater.