Goal Setting
What is a SMART goal?
An acronym that helps you set and achieve your financial goals.
Something that is important for survival.
A need.
How many types of money personalities are there?
There are 4 types of money personalities.
What is appreciation?
When the value of an asset increases over time.
Earning money is not the main goal.
A career.
How many types of goals are there? Name them.
There are 3 types of goals. Short-term goals, medium-term goals and long-term goals.
Something that is not life threatening and can wait.
A want.
What is another term for money personality?
Money Script.
What is depreciation?
When the value of an asset decreases over time.
TRUE OR FALSE.
People typically plan to have the same job for the long-term.
FALSE
How long does it take to accomplish a short-term, medium-term and long-term goal?
1-3 years, 3-5 years and 5 or more years.
Name the basic categories of needs.
Food, Shelter, Utilities and Transportation.
What is a money personality?
A collection of factors that influence your financial habits and decision making.
Provide 3 examples of assets that appreciate.
Vintage cars, paintings, baseball cards, crypto currency, gold, oil, real estate, precious metals, art & antiques.
What are 3 examples of soft skills?
Communication, team-work, leadership skills, problem solving skills.
What does the acronym SMART stand for?
Specific, Measurable, Achievable/Attainable, Realistic/Results-focused, Timeline/Time-bound.
Understanding your needs and wants helps you to _____________ your spending.
Prioritize
Your money personality is a collection of __________ that _________ your financial habits and decision making.
Factors, Influence
Provide 4 examples of assets that depreciate.
Non-vintage cars, electronic devices, clothing, machinery, equipment, buildings.
Provide 4 differences between a job and a career.
Answers will vary.
Provide a detailed example of a SMART goal. Make sure it hits every letter in the acronym!
Answers will vary.
Understanding your needs and wants helps you to ____________ your _____________ __________.
Achieve, Financial, Goals.
Describe Money Worship & Money Status.
Money Worship: key to happiness, buys freedom, more will always make you happier.
Money Status: only want new things, spend money to keep up with status, net worth = self worth.