Principles of Financial Planning Answers

Which would be most helpful when considering a large expenditure that might require repeating payments? Select three options.

Personal finance skills have the most significant impact on an individual’s

_____ are items such as utilities, rent, and food—items that one can’t do without.

Planning to finance higher education helps people prepare for their financial future because it teaches them about

What is included in an individual’s personal assets? Select three options.

There are four steps in solving one’s personal financial challenges:1. considering opportunity costs2. assessing risks and returns 3. setting short- and long-term goals4. assessing needs and wantsWhich of these is the correct order of these steps?

How do short-term financial goals differ from long-term financial goals?

Which of these is the best example of an asset?

This chart shows Dan’s budget:

What do financial planning skills ultimately enable an individual to do?