BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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short term financial goals can be achieved less than 6 months
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short term financial goals can be achieved less than a year
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long term financial goals usually take more than 3 years
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long term financial goals usually more than 10 years
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Detailed explanation-1: -Any goal within a five-year window is considered short term; anything longer is (you guessed it) long term. 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-2: -Short-Term Financial Goals Your short-term goals should consist of setting a budget, reducing your debt, and starting an emergency fund. There are plenty of free online budgeting tools to help you learn how to budget.
Detailed explanation-3: -Short-term financial goals take under one year to achieve. Examples may include taking a vacation, buying a new refrigerator or paying off a specific debt.
Detailed explanation-4: -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.