ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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identify possible courses of action.
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evaluate your alternatives.
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determine your financial situation.
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develop your financial goals.
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Detailed explanation-1: -1) Identify your Financial Situation. 2) Determine Financial Goals. 3) Identify Alternatives for Investment. 4) Evaluate Alternatives. 5) Put Together a Financial Plan and Implement. 6) Review, Re-evaluate and Monitor The Plan.
Detailed explanation-2: -1. Create and stick to a budget. Not only is budgeting one of the top financial goals people set each new year, but it’s also the foundation you should build all your other money goals on. A budget is how you make progress with your money.
Detailed explanation-3: -Step 1: Assess your financial foothold To assess your financial foothold, take stock of your income, expenses and debt. List your assets: the value of your property and investments (if any) and the balances of your checking and savings accounts. Then, list your debts: credit card balances, mortgages and other loans.
Detailed explanation-4: -Take Inventory. Clearly Identify Your Financial Goals. Create and Execute a Plan of Action. Monitor and Adjust.
Detailed explanation-5: -Define your short-and long-term goals. Audit your current income, savings, and long-term savings and investing plan. Address shortfalls/adjust goals. Account for multiple future scenarios. Develop a comprehensive financial plan. Implement and monitor that plan. More items •21-Dec-2021