BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Saving for 2 months for an $80 outfit
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Saving for 5 years for a $3000 dream vacation to Italy
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Saving for 3 years for a $1500 car down payment
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Detailed explanation-1: -For example, you may want to clean out your closet, read that book that’s been collecting dust on your nightstand, save the money you need to go on a long-overdue vacation, or finally run a 10K.
Detailed explanation-2: -Some short-term goal examples include buying a new car or paying down student loans, while long-term goals may be things like saving for retirement, paying for your kids’ education, or buying a vacation home.
Detailed explanation-3: -A short-term goal is any goal you can achieve in 12 months or less. Some examples of short-term goals: reading two books every month, quitting smoking, exercising two times a week, developing a morning routine, etc. How do you set short-term goals?
Detailed explanation-4: -° Long-term goals: Goals that can take more than five years to achieve. ° Short-term goals: Goals that can take a short time, or up to five years, to reach.