15 Questions
What is the first step in the six-part financial goal setting process?
Brainstorm your goals
Why is setting financial goals important?
It helps you live out your values with your money
What is one common mistake people make with goal setting?
Taking on too many goals at once
What can help individuals stay on track with their financial goals?
Creating S.M.A.R.T. goals
What is the overall outcome of reaching financial goals?
Satisfaction
What is the simplest definition of a budget?
Telling your money where to go
Why is budgeting important?
To reflect your values
What does income include in a budget?
All of the above
What are considered budget needs?
Housing/utilities
What do budget wants include?
Dining out
What is the main purpose of budgeting?
To plan for future financial goals
What does a good budget include information about?
Income, budget needs, budget wants, and savings goals
What is considered as income in a budget?
Main paycheck, side hustles, part-time jobs, or monetary gifts
What factors influence an individual's budget needs?
Desired lifestyle and career progression
How can one create their very first budget according to the text?
By pulling all financial information together and ensuring the budget balances
Learn the importance of setting financial goals, a six-part process for setting them, and how creating S.M.A.R.T. goals can help you stay on track. Discover why setting clear finish lines, avoiding taking on too many goals at once, and planning for challenges are important in achieving financial goals.
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