Personal Financial Planning by Randy Billingsley, Lawrence J. Gitman, et al Test bank| Reviewed/Updated for 2021

Personal Financial Planning by Randy Billingsley, Lawrence J. Gitman, et al Test bank| Reviewed/Updated for 2021 The Test bank borrows from the elaborated text book fielding questions specially tailored to the text book topics to equip the student with what questions to expect in the quiz’s tests and exams Knowing how to handle money effectively is more important today than ever. Billingsley/Gitman/Joehnks market-leading PERSONAL FINANCIAL PLANNING, 15E provides the tools, techniques and understanding you need to define and achieve your financial goals. Numerous examples and practical illustrations complement a common-sense approach. Interesting features and insightful financial planning tips work with current updates to keep content both timely and relevant. New content guides you in using todays financial tools and technology as you learn how to improve your spending habits, ask a financial adviser the right questions, budget effectively and choose the right bank for your individual needs. The term most closely associated with quality of life is a. wealth. b. consumption. c. education. d. standard of living. e. money.Standard of living is defined as the necessities, comforts, and luxuries desired by an individual or group.Your average propensity to consume is the percentage of each dollar of income, on the average, that is spent for current needs rather than savin. A good financial plan completed when one is in their 30s will typically last a lifetimeFinancial planning is a continuing, life-long processFinancial planning can improve your standard of livingPersonal financial management is important because it a. controls inflation. b. limits consumption. c. uses money as an end. d. makes personal financial goals easier to achieve. e. lessens economic differences among individuals.Financial planning can help us to a. control inflation. b. spend wisely. c. control unemployment rates. d. a and b. e. a, b, and cThe last step in the financial planning process is to a. develop financial plans and strategies to achieve goals. b. use financial statements to evaluate results of plans and budgets, taking corrective action as required. c. implement financial plans and strategies. d. redefine goals and revise plans and strategies as personal circumstances change e. periodically develop and implement budgets to monitor and control progress toward goals.. The term most closely associated with quality of life is a. wealth. b. consumption. c. education. d. standard of living. e. money.