Chapter 1 Learning Objectives MAIN

LO 1.1 states that you should be able to identify _______ and economic influences on financial literacy and personal financial decisions.

• social

• technological

• environmental

• political

LO 1.2 states that you should be able to develop _______ financial goals.

• personal

• corporate

• international

• shared

LO 1.3 states that you should be able to calculate _______ value of money situations to analyze personal financial decisions.

• time

• market

• future

• nominal

LO 1.4 states that you should be able to develop and implement a plan for making personal financial and _______ decisions.

• career

• medical

• recreational

• culinary

Personal financial planning is the process of managing your money to achieve ________ economic satisfaction.

• personal

• public

• corporate

• national

Financial literacy is the use of knowledge and skills for earning, saving, spending, and investing money to achieve personal, family, and ________ goals.

• community

• business

• educational

• political

A financial plan is a formalized report that summarizes your current financial situation, analyzes your financial needs, and recommends future ________ activities.

• financial

• recreational

• culinary

• artistic

One advantage of financial planning is increased effectiveness when obtaining, using, and protecting ________ resources.

• financial

• natural

• human

• technological

Financial planning helps expand control of your financial affairs by avoiding excessive ________ and dependence on others.

• debt

• savings

• income

• spending

Improved ________ relationships is an advantage of financial planning.

• personal

• mechanical

• chemical

• seasonal