Grow Mod 4

Ali wants to buy a new laptop. He writes down a goal of saving $1,200. What detail is this goal missing?

• It is not measurable

• It is not attainable

• It is not realistic

• It is not time-based

Zoya's friends invited her to go on a trip abroad during summer vacation. She's excited to go and writes down a goal of saving enough money over the next five months. What detail is this goal missing?

• It is not measurable

• It is not attainable

• It is not realistic

• It is not time-based

Mateo wants to buy a new guitar and amp that will cost about $2,500. He works part time at a cafe and brings home around $500 per week. He tells his friends he plans to buy the guitar in about two months. What detail of this goal is missing?

• It is not measurable

• It is not attainable

• It is not realistic

• It is not time-based

Kim delivers groceries for a living and needs to buy new tires for her car soon. Which choice would be the best for her to make so without disrupting any of her other financial goals?

• Using a credit card

• Making a savings plan

• Taking out a loan

• Withdrawing money from her retirement account

Benjamin's moped will need to be replaced soon. Which choice would be the worst for him to make that would disrupt his other financial goals?

• Using a credit card

• Making a savings plan

• Taking out a loan

• Using his rent money

When is using a credit card to cover an emergency expense a good idea and won't cost you any interest?

• Pay yourself first

• Utilize maximum credit

• Save for retirement

• Take out personal loans

Paying yourself first, sticking to a budget, pacing yourself, living within your means, and knowing where your cash goes are all _______.

• ways to afford everything you want

• ways to balance expenses and savings

• guaranteed to prepare you for every expense

• ensure that you are able to retire comfortably

Why should you keep track of how much money you spend on items like food, gas, and going out each week?

• So you can know where your cash goes

• So you can know when to use credit or debit

• . So you can be sure to save enough money each month

• . So you can meet your savings milestones

A goal to save money for a new saxophone is ________.

• specific

• measurable

• attainable

• time-based

A measurable savings goal spells out ________.

• what the money needs to be saved for

• how much money needs to be saved

• why the money needs to be saved

• when the money will be saved