ENTREPRENEURIAL PLANNING
FINANCIAL PLANNING AND ANALYSIS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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true
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false
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Either A or B
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None of the above
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Detailed explanation-1: -A short-term goal is something you want to do in the near future. The near future can mean today, this week, this month, or even this year. A short-term goal is something you want to accomplish soon. A short term goal is a goal you can achieve in 12 months or less.
Detailed explanation-2: -Your short-term goals should consist of setting a budget, reducing your debt, and starting an emergency fund. There are plenty of free online budgeting tools to help you learn how to budget. Once you figure out a budget, it’s important to start thinking about how you can reduce your debt.
Detailed explanation-3: -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.