Personal Financial Planning

Which is not a short term goal?

• Going to college

• Graduating high school

• Passing this class

• Saving for a computer

Which of the following is an example of an intermediate goal?

• Attending college

• Graduating high school

• Saving for a down payment on a house

• Saving for retirement

Choose the best example of a long-term goal.

• Taking a yearly vacation

• Graduating from a 2 year college

• Graduating from a 4 year college

• Planning for retirement

A short-term goal is best known as...

• taking one year or less to complete

• taking two to five years to complete

• taking more than five years to complete

• taking 10 years to complete

An intermediate goal is best known as...

• Taking one year to complete

• Taking less than one year to complete

• Taking two to five years to achieve

• Taking five plus years to achieve

Taking more than five years to achieve is best known as a

• Long-term goal

• Short-term goal

• Intermediate goal

• Goal

Step 1 in the financial planning process is...

• Review and Revise Your Plan

• Create and Use Your Financial Plan of Action

• Develop Your Financial Goals

• Determine Your Current Financial Situation

Step 2 in the financial planning process is...

• Determine Your Current Financial Situation

• Identify Alternative Courses of Action

• Develop Your Financial Goals

• Evaluate Your Alternatives

The last step in your financial planning process is

• Identify Alternative Courses of Action

• Create and Use Your Financial Plan of Action

• Evaluate Your Alternatives

• Review and Revise Your Plan

When should you review your Financial Plan?

• Every year

• When you change jobs

• When your financial situation changes

• All of the above