30 Questions
Wealth is about ______, which is the only number that really matters.
net worth
True or false:Setting goals is the first step in preparing for a journey towards wealth building and net worth.
False
What is the final step in preparing for a journey towards wealth building and net worth?
Setting SMART goals
SMART goals are ______, measurable, action-oriented, relevant, and time-based.
specific
What should goals be to determine if they have been achieved?
Specific and measurable
True or false: Goals must be specific and measurable to determine if they have been achieved.
True
[Blank] financial habits can become a part of daily life and increase net worth.
Positive
What does SMART stand for in SMART goals?
Specific, measurable, action-oriented, relevant, and time-based
True or false: SMART goals are specific, measurable, action-oriented, relevant, and time-based.
True
True or false: SMART goals help to keep attention and energy focused on achieving the goal.
True
Focusing on ______ over wants can help to utilize money better towards growing net worth.
needs
What do SMART goals help to keep focused on achieving the goal?
Attention and energy
The Freedom Fund is determined by ______.
net worth
What do we tend to do when estimating what can be achieved in a short period of time versus a longer period of time?
Overestimate what can be achieved in a short period of time
True or false: We tend to overestimate what can be achieved in a short period of time and underestimate what can be achieved in a longer period of time.
True
Prioritize financial goals: paying down debt, saving for a home, building emergency savings, investing in ______ or stocks and bonds.
real estate
True or false: Wealth is about income.
False
What can become a part of daily life and increase net worth?
Positive financial habits
What is wealth about?
Net worth
True or false: Focusing on needs over wants can help to utilize money better towards growing net worth.
True
Set SMART goals for each priority to hold yourself accountable and manage ______.
expectations
True or false: Prioritizing financial goals is not necessary for achieving financial success.
False
What are SMART habits about?
Learning how to earn more, spend less, and use the difference to accumulate wealth
Review the ______ steps to financial awareness.
seven
What can help to utilize money better towards growing net worth?
Focusing on needs over wants
True or false: The speaker will not return in a later module to discuss the do's and don'ts of investing.
False
Take time to set SMART goals for each priority in the next few ______.
modules
Accountability is key to achieving ______ success.
financial
True or false: SMART goals are specific, measurable, achievable, relevant, and time-bound.
True
What should be done to hold oneself accountable and manage expectations for financial goals?
Set SMART goals for each priority
Study Notes
- Setting goals is the final step in preparing for a journey towards wealth building and net worth.
- Goals must be specific and measurable to determine if they have been achieved.
- SMART goals are specific, measurable, action-oriented, relevant, and time-based.
- SMART goals help to keep attention and energy focused on achieving the goal.
- We tend to overestimate what can be achieved in a short period of time and underestimate what can be achieved in a longer period of time.
- Positive financial habits can become a part of daily life and increase net worth.
- Wealth is about net worth, which is the only number that really matters.
- SMART habits are about learning how to earn more, spend less, and use the difference to accumulate wealth.
- Focusing on needs over wants can help to utilize money better towards growing net worth.
- The Freedom Fund is determined by net worth.
- Prioritize financial goals: paying down debt, saving for a home, building emergency savings, investing in real estate or stocks and bonds.
- Set SMART goals for each priority to hold yourself accountable and manage expectations.
- Review the seven steps to financial awareness.
- Take time to set SMART goals for each priority in the next few modules.
- Colleagues will share real-life experiences and how they've used these processes to earn more, spend less, and get out of debt.
- The speaker will return in a later module to discuss the do's and don'ts of investing.
- Emphasize the importance of taking action towards financial goals.
- Accountability is key to achieving financial success.
- SMART goals are specific, measurable, achievable, relevant, and time-bound.
- Thank the audience for the privilege of sharing information.
This quiz will test your knowledge on setting SMART financial goals and building wealth. You will learn about the importance of having specific and measurable goals, the impact of positive financial habits on net worth, and prioritizing financial goals. The quiz will also cover the seven steps to financial awareness and the do's and don'ts of investing. Test your understanding of SMART goals and financial success with this informative quiz.
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