MCS 2100 Chapter Notes - Chapter 1: Financial Plan, Opportunity Cost, Situation Two
20 Nov 2018
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Commonly referred to as the trade : financial opportunity costs include interest, liquidity, and safety of investments. You need to regularly assess you financial decisions and re-evaluate at least once a year. Changing personal, social, and economic factors may require more frequent assessments. Developing personal finance goals: factors that influence your financial goals. Timing of goals: shot-term goals are to be achieved within the next year or so (saving for vacation or paying off small debts) Such purchases if made unwisely can have a negative effect on your financial situation cars, and sporting equipment. They may relate to personal relationships, health, education, and leisure. Goal setting for these life circumstances is also necessary. Goal for different financial needs: life situation. At different ages you spend your money differently. As our society changes different types of financial needs evolve someone in their 20s. The adult life cycle includes the stages in the family situation and financial needs of an.
