ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Examples of different types of financial goals include: Save for retirement and other long-term plans. Save for short-term and mid-term plans. Pay off debt. Build good credit.

Detailed explanation-2: -A financial goal is a target to aim for when managing your money. It can involve saving, spending, earning, or even investing. Creating a list of financial goals is vital to creating a budget.

Detailed explanation-3: -Goal setting is an important part of developing your financial plan. Having clear financial goals will make it easier to focus on investing strategies to help you reach them.

Detailed explanation-4: -Financial goals can be short-, medium-or long-term. These goals can help you succeed in your personal and professional life and save for retirement. Examples of financial goals include creating an emergency savings account, building a retirement fund, paying off debt and finding a higher-paying job.