Develop system for filing and maintaining personal financial

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Reference no: EM133578845

Question

1. Create one short-term goal and one long-term goal for people in these life situations:

(a) a young single person, (b) a single parent with an eight-year-old child, (c) a married person with no children, and (d) a retired person.

Guide: Be sure to consider life situation, opportunity costs, and other factors. Differences among the groups mentioned will relate to their values, financial needs, and goals. These factors will influence how money is spent, saved, borrowed, and invested as well as the trade-offs that are present with every financial decision. Financial needs are different for people with children than people without children, and the risk associated with a decision investment is different for a young person with few financial responsibilities than a retired person with no other income source.

2. Develop a system for filing and maintaining personal financial records.

Guide: Think about common personal finance documents

Reference no: EM133578845

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