Principles of Financial Planning

What term describes using assets to accomplish a goal in the present? spending
Which of these is the best example of successfully managing a financial asset? opening a new savings account
Which would be most helpful when considering a large expenditure that might require repeating payments? creating a budget to consider future income and spending
Which results are more likely for someone without personal finance skills? Check all that apply. higher tax ratesless preparation for emergenciesincreased long-term challenges
Planning to finance higher education helps people prepare for their financial future because it teaches them about funds management and loans.
This chart shows Dan’s budget:Did Dan stay on budget? Why or why not? No, Dan should reduce his discretionary spending.
In personal finance, what is considered a need? something one cannot live without
Personal finances encompass an individual’s assets.
In American society, which of these is an example of a want? television
How do long-term goals differ from short-term goals? NOT Long-term goals involve more planning than short-term goals do.

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