Which activities support the central idea about financial planning?

Which activities support the central idea about financial planning

Which activities support the central idea about financial planning?

Q. Which activities support the central idea about financial planning

A. saving money in a piggy bank
B.making impulsive candy purchases
C.investing extra money to earn interest
D.spending lavishly as a personal reward
E.purchasing stock in a growing company
The correct answers here are:
A: Saving money in a piggy bank, C: Investing extra money to earn interest and e: Buying stock in a growing company.
Financial planning establishes policies, actions and procedures implemented from an economic. and resource perspective to ensure that a company’s goals. and vision are met. It’s like setting up a pillow that works without the whole trade failing. One of its aims is to help establish the financial resources needed to achieve the company’s goals. and to make them productive also to human and physical resources. That’s why saving money, i.e. investing in other businesses to earn interest and buy stock. ensures the money and cash needed to answer these financial needs. and be part of a good financial planning process.

What are the different types of financial goals?

There are several types of financial goals: Short-term goals. Interim goals. Long-term goals. How do you identify financial goals?
Develop a goal chart

Write a personal financial goal.

Decide whether your goal is short-term. medium-term or long-term, and create a timeline for that goal. Determine how much money you need to save to reach your goal and divide that amount by month and / or year. Think of all possible ways to achieve that goal.

What are some examples of long-term financial goals?

What are the long-term financial goals?

Retirement Fund. Closing a mortgage. Starting a business. Preserves as a child’s college tuition. How should my finances be in the 30s? By the age of 30, you should have saved a decent portion for your future. Experts say – in fact, according to Fidelity Investment, a Boston-based investment firm, your account will look like a one-year salary. So if you make $ 50,000 a year, you already save $ 50,000.

What is a long-term savings goal?

Long-term goals for a car. Home repair or retirement goal must savings beyond the tax-protected account limit. This may include your emergency fund for large medical bills. expensive procedures, or savings in the event of a job loss.
How important is retirement savings to your long-term personal goals?
It is essential to save for retirement. When you save for retirement, you save for your future. When you neglect this, you run the risk of not being able to take care of yourself as you get older. Your retirement goals should come before you save for your children’s education or go on vacation

What is a good retirement savings goal?

The law of fidelity is the lifestyle you expect in retirement.
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