Answer: The below results are more likely for someone without personal finance skills:
Higher tax rates
. Less preparation for emergencies. Increased long term challenges.
Which results are more likely for someone without personal finance skills check all that apply?
Answer: The below results are more likely for someone without personal finance skills:
Higher tax rates
. Less preparation for emergencies. Increased long term challenges.
What are the 5 most important aspects of personal finance?
Before delving deeper into the topic, it is essential to point out that there are 5 contours to one’s complete financial picture. They are
saving, investing, financial protection, tax planning, retirement planning
, but in no particular order.
What do financial planning skills ultimately?
The best financial planning skills ultimately
enable an individual to prepare for his future
. Further explanation: If an individual maintain a balance between his income and expenditure, in which he spends according to his income then it is considered as one of the best planning skills.
Which is included in an individual’s personal assets?
Common examples of personal assets include:
Cash and cash equivalents, certificates of deposit, checking, and savings accounts
, money market accounts, physical cash, Treasury bills. Property or land and any structure that is permanently attached to it.
What are the main purposes of a budget?
The purpose of a budget in accounting is to
create an accurate financial plan for the future, anticipating all sources of income and all expected expenditures to avoid business debt
, and reach financial growth.
Which is the best way to achieve long-term financial goals?
Which is the best way to achieve long-term financial goals?
Save more money from net income
.
What is the most important element of personal finance?
One of the most important (and obvious) aspects of personal finance is
cash flow management
. This is all about how much money is going in, and where that money goes. Getting your cash flow under control is vital before you can do anything else with your money.
What are the key to have a good personal finance?
Your budget
is key to success. It is the tool that will give you the most control of your financial future. Your budget is the key to achieving the rest of your plan. You should keep contributing to long-term goals, like saving for retirement, no matter what your financial plan stage is.
What are the 4 areas of personal finance?
Personal finance is a term that covers managing your money as well as saving and investing. It encompasses
budgeting, banking, insurance, mortgages, investments, retirement planning, and tax and estate planning
.
Which best describes a financial planning skills ultimately enable an individual to do?
The best financial planning skills ultimately enable an individual
to prepare for his future
. Further explanation: If an individual maintain a balance between his income and expenditure, in which he spends according to his income then it is considered as one of the best planning skills.
What questions should she ask before she makes the purchase?
What questions should she ask before she makes the purchase? Do I need this car or should I use my old car a little longer? Is this a reliable vehicle? Will buying this car prevent me from saving money to buy a house?
Which best describes the role of financial planning?
Financial planning is a
comprehensive evaluation of an investor’s current and future financial state by estimating the capital required and determining its competition
. It helps you make decisions that make the most of your financial resources.
What is your strongest personal asset?
Examples of personal characteristic assets include:
Great smile
.
Ability
to get along with many different personalities. Positive attitude.
How do you evaluate personal assets?
- List your assets (what you own), estimate the value of each, and add up the total. Include items such as: …
- List your liabilities (what you owe) and add up the outstanding balances. …
- Subtract your liabilities from your assets to determine your personal net worth.
How are your personal assets valuable to you?
Personal assets can do more than simply help
people get loans and count towards net worth
. They are also sometimes able to create income for their owners. Bank accounts and savings accounts accrue interest. … It is also important to know the value of an individual’s personal assets.
