Principles of Financial Planning Answers

What do financial planning skills ultimately enable an individual to do?

Amanda wants to buy a new car. What questions of financial responsibility should she ask herself before she makes the purchase? Select three options. Do I need this car or should I walk, bike, and take the bus to save money?Is this a reliable vehicle or will I have to make costly repairs?What will my friends think when I buy this car?Will I be able to afford the insurance, gas, maintenance of battery, oil, tires, and also repairs?Will this new car be fast and my favorite color?

Which would be most helpful when considering a large expenditure that might require repeating payments? Select three options.careful consideration of short-term goalsrecording the number of assets you currently owncreating a budget to consider future income and spendinglearning more about different kinds of accounts to manage moneylearning about opportunity cost

Which results are more likely for someone without personal finance skills? Select three options.larger long-term credit or loan costsless preparation for emergenciesfewer utility expensessimple long-term investment strategiesincreased long-term challenges

What is included in an individual’s personal assets? Select three options.number of dependentsmoneycareerpropertyinvestment