assignment 1.docx - 1 Describe two examples of important things that financial planning skills can help you do and explain why these things are

assignment 1.docx - 1 Describe two examples of important...

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1. Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you personally. (4-6 sentences. 2.0 points) Two important things financial planning can help me do is to create a budget and plan for retirement. Creating a budget is an important thing to do because it helps to organize your finances and figure out how much money you have to spend on both necessities and luxuries. Planning for retirement is important because you need to make sure that you have enough money stored up to support your lifestyle when you retire. Both things are important to help live a flexible, monetary- wise lifestyle 2. List two examples of goods you have purchased in the past or may purchase in the future. (Complete sentences are not necessary. 0.5 points) food and clothes 3. List two examples of services you have purchased in the past or may purchase in the future. (Complete sentences are not necessary. 0.5 points) Haircuts and cooking 4. One of the functions of money is as a store of value. How does inflation affect money's ability to store value? (3-6 sentences. 2.0 points) When inflation goes up, the price of an item does up with it. This means that you would have to pay more for something than you did the first time. Inflation makes the value of the dollar go down and can hurt businesses 4. Imagine that you are considering moving to a new country and looking for a job there, but you first want to make sure the country has a strong economy. Describe at
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  • Spring '14
  • PhillipT.Kolbe

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