PF.01

Anything in your life that involves money refers to what term?

• professional planning

• personal finance

• financial planning

• values

Things you want to accomplish are called what?

• values

• needs

• wants

• goals

Arranging to spend, save, and invest your money to live comfortably, have financial security, and achieve goals is called what?

• personal finance

• financial planning

• goals

• needs

What is one benefit to financial planning?

• You will always be successful.

• Those who use financial planning are better able to plan for and handle debt.

• You will not be as likely to reach your goals.

• Your wants will decrease.

Something that you must have to survive is called what?

• want

• value

• need

• none of these options

Something you desire or would like to have is called what?

• personal finance

• need

• value

• want

Which of the following is an example of a need?

• water

• Air Jordan sneakers

• diamond ring

• Versace t-shirt

Which of the following would be an example of a want?

• food

• shelter

• 2021 Cherry Red Corvette

• a pair of shoes

Beliefs and principles you consider important are called what?

• values

• needs

• wants

• goals

What is the last step in financial planning and decision-making?

• Identify the problem.

• Create a list of alternatives.

• Make a decision.

• Review and revise your plan.