ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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To determine the amount of money you need to save
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To make sure you have time to manage your money
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It helps you feel motivated on saving your money
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Setting financial goals helps you stay focused
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Detailed explanation-1: -They make it easier for you to make sacrifices or stick to a budget because you know what outcome you’re striving for. They help you keep focused on the long term. Motivation – financial goals provide purpose and energy and help you stay disciplined in your investment process.
Detailed explanation-2: -Goals give direction to investments Goals give direction to your investments. Clearly defined goals provide a purpose to your investments and help you stay focussed and curb unnecessary expenditure so as to achieve those goals in the long-term.
Detailed explanation-3: -Make a budget. Pay off credit card debt. Start an emergency fund. Save for retirement. Save for college. Save for a down payment on a home. Improve your credit score. Pay off student loans. More items •10-Feb-2023
Detailed explanation-4: -Write them down. The act of writing down your goals makes them more real and tangible. Share them with a trusted friend or family member. Make a plan. Take action. Celebrate your progress. Make a budget. Automate your savings. Delay gratification. More items