11
QuizMultiple Choice

Financial Goals

Question 11 • SHS Alt Personal Finance - 2021

You are trying to save up for a spa package that costs $300. After looking at your paycheck, you decide that you will be able to set aside $50 a week for the next 6 weeks. Knowing this information, you call the spa to make a reservation for this package for 2 months from now. Which type of goal does this situation best describe?

Answer
A
Immediate
B
Long term
C
Short term
D
Unrealistic

Explanation

You can save $50 each week for 6 weeks, which gives you $300—the cost of the spa package. Since you plan to reach the goal in about 2 months, it is a short-term goal. “Short term” is the best answer; it is neither immediate nor unrealistic.

AI-written and checked against the verified answer.

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