Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN: 9780357033609
Author: Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher: Cengage Learning
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Chapter 1, Problem 2FPE
Summary Introduction
To discuss: Reasons for changes in goals and the ways to adopt financial plans as a result.
Financial plans refer to the valuation of the current payment of an individual and the future financial position. It is done by the way of using the variables to
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1. Identify at least 3 personal goals using the SMART guidelines. Financial goals should be specific , measurable, have a definite timeframe, relevant, and imply the action to be taken. Your goals can be short term (less than a year, up to years), mid term (2-5 years), or long term (>5 years).
2. Identify your values and beliefs associated with money, write brief paragraph that identifies your values and belief about money.
3. Research 3 online financial tools or apps that you might use. These might be for budgeting, saving, shopping, coupons etc. describe the app or tool and whether you think you would use it or not. If you are already using online tools or apps, you can explain what you like or don't like about them.
Using this template, formulate and create a minimum of three SMART goals related to these aspects of personal financial planning. For each goal, also identify why this is an important financial goal for you at this time.
Career planning and development
Spending plan/cash flow analysis
Tax planning
Savings and investing
Use of credit
Lenny is setting her investment journey.
What is the first step she should take to reach her financial goals?
Make a list of her goals and prioritize them
List down available financial products.
automate insurance
Evaluate her financial position and budget.
Chapter 1 Solutions
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
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