Mr. Lee Setting Financial Goals

Goal setting helps make the life you want to live a ______.

• A) dream

• B) reality

• C) challenge

• D) mystery

Goal setting helps create ______.

• chaos

• well-being

• uncertainty

• stress

Setting financial goals will help you make better ________.

• day to day spending decisions

• random purchases

• impulsive buys

• none of the above

What does the 'T' in SMART goals represent?

• Timely

• Tangible

• Time Bound

• Targeted

Which of the following is an example of a specific financial goal?

• I will save money.

• I will reduce my debt.

• I will reduce the amount I owe on my car loan.

• I will earn more.

Fill in the blank: A financial goal should state exactly what plan you have for the ______ involved.

• time

• money

• resources

• people

What is a key characteristic of a measurable goal?

• It is open-ended

• It is specific and quantifiable

• It is based on feelings

• It is flexible.

Lacey has $100. Her next best option is to save it. What is this an example of?

• Investment

• Trade-off

• Opportunity cost

• Expense

Her next best option is to save the $100. This is a ________.

• A) Trade-off

• B) Opportunity cost

• C) Financial decision

• D) Budgeting strategy

Fill in the blank: Lacey plans to pay an extra $100 per ______ to reduce her car loan.

• day

• week

• month

• year