Personal Finance Final Exam Study Guide Questions and Solutions

Personal Finance Final Exam Study Guide Questions and Solutions The main goal of personal financial planning is: Who is most likely to benefit from inflation? The Fed refers to: Some savings and investment choices have the potential for higher earnings. However, these may also be difficult to convert to cash when you need the funds. This problem refers to: A question associated with the saving component of financial planning is: When an individual makes a purchase without considering the financial consequences of that purchase, they are ignoring the aspect of financial planning. As an individual plans to set aside funds for her young children's college education, she is setting a(n) ____________ goal. The time value of money refers to: . The first step of the financial planning process is to: