ECONOMICS (CBSE/UGC NET)

ECONOMICS

BUDGETING

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Which of the following would be the best example of a long-term goal?

A	Budgeting for an annual vacation.
B	Saving for retirement.
C	Buying a used car.
D	Completing college within the next six months.

Explanation:

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: -Long-term financial goals This type of goal usually takes much more than 5 years to achieve. Some examples of long-term goals are saving for a college education, retirement, or a new home.

Detailed explanation-3: -Set a Retirement Budget. Plan a Milestone Event. Prioritize Wellness. Discover New Interests. Re-think Residences. Leave a Legacy. 14-Sept-2022

Detailed explanation-4: -Invest in a retirement account. A long-term goal common to nearly everyone is retirement. Consider opening separate accounts for other long-term goals. Don’t let short-term goals overshadow the long-term ones. Explore passive income opportunities. Build your career. 04-Oct-2022

There is 1 question to complete.