ECONOMICS
OPPORTUNITY COST
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
being unhappy with the amount of money you have.
|
|
|
being happy with the amount of money you have.
|
|
|
not caring about what you buy.
|
|
|
not caring what other people buy you.
|
Detailed explanation-1: -Financial well-being is a combination of both earning and spending money in a right way which enables an individual to be happy and satisfied with his or her financial situation. It is important to distinguish financial well-being from another term, which is financial freedom.
Detailed explanation-2: -Financial well-being means how much your financial situation and money choices provide you with security and freedom of choice. We developed a questionnaire and a scoring method as a tool that can help you take stock of your financial well-being.
Detailed explanation-3: -Examples might include buying a home, saving for a child’s college tuition or saving for retirement.
Detailed explanation-4: -Having a good relationship with money and a positive mindset. Having clear plans to achieve your goals. Regaining control of your day-to-day finances. Having the ability to withstand financial shock.
Detailed explanation-5: -Stage One – Financial Chaos. Stage Two – Financial Awareness. Stage Three – Financial Thriving. 11-Nov-2021