Personal Finance 1.03

Which is the "R" in SMART Goal?

• Realistic
• Required

Which is the "M" in SMART Goal?

• Measurable
• Magnificent

Kamryn's academic adviser has asked her to set 3 academic goals for this semester. These goals are MOST LIKELY to be accomplished if:

• Amber writes down her goals.
• Amber thinks about her goals weekly.
• Amber discusses her goals with her parents.
• Amber lets her friends set her goals.

Kaylee will save her allowance of $25 per month to purchase a $150 mp3 player in six months. This is an example of what type of goal?

• Short-Term Goal
• This is not an example of a goal.
• Mid-Term Goal
• Long-Term Goal

Which part of the SMART goal is missing? "Instead of signing up for cell phone plan, I will save that money to buy a new computer in one year. I will do this by saving $50 I would have spent on the cell phone bill every month."

• Attainable
• Time Bound
• Specific
• Measurable

Changing your goal from "I will work out daily" to "I will work out for an hour daily" adds what part of SMART to your goal?

• Specific
• Attainable
• Measurable
• Realistic

Adding a step-by-step plan to show how your goal will be reached creates a(n) __________ SMART Goal.

• Time-Bound
• Attainable
• Measurable
• Specific

Something a person intends to acquire, achieve, or accomplish in the future

• Opportunity Cost
• Financial Planning
• Goal
• Trade-Off

Which is the "A" in SMART Goal?

• Acquired
• Attainable

Something a person intends to acquire, achieve, or accomplish that will be attained in LESS than one year

• Long-Term Goal
• Trade-Off
• Short-Term Goal
• Financial Planing