Online Personal Finance Assignment 2
Assignment 2: Financial Planning
(25.0 points) 1. Describe one short-term goal that you have and at least one thing you will need to do in order to accomplish that goal. (2-4 sentences. 1.0 points) ~One short-term goal that I have is to draw up a business plan for selling my art. One of the first things I need to do to achieve this goal is to find an investor.
2. Describe one long-term goal that you have and at least two things you will need to do in order to accomplish that goal. (2-4 sentences. 1.0 points) ~One long term goal that I have is to go to
3. Describe two of your long-term financial goals, and explain why these goals are important to you. List at least three steps that might help you accomplish this goal. (4-6 sentences. 2.0 points) ~Three long-term financial goals I have are to be able to pay for college, buy a house, and open a tattoo shop. Some steps I could take to achieve the goal of paying for college is to choose an in-state college to go and get as many scholarships I can to cover the costs of some other things. To buy a home I could ask for a loan from the bank and slowly pay of the debt over time. I could do the same thing for starting a tattoo shop.
4. Describe an example of a common financial resource, an expense, and a debt. These can be examples from your own life or from other people you know or can imagine. (3-6 sentences. 3.0 points)
~An example of a financial resource is a share. An example of an expense is food from a fast food restraint. An example of a debt is college loans. 5. Describe a real or made up but realistic example of earned income that you or someone you know has received. What type of work was the income from? Was the income in the form of a salary or wages? (1-2 sentences. 1.0 points)
~An example of earned income that I received is when I worked for the zoo over the summer, and the form of income was in wages. I assisted in taking care of children, giraffes, and stingrays. 6. Describe a real
(25.0 points) 1. Describe one short-term goal that you have and at least one thing you will need to do in order to accomplish that goal. (2-4 sentences. 1.0 points) ~One short-term goal that I have is to draw up a business plan for selling my art. One of the first things I need to do to achieve this goal is to find an investor.
2. Describe one long-term goal that you have and at least two things you will need to do in order to accomplish that goal. (2-4 sentences. 1.0 points) ~One long term goal that I have is to go to
3. Describe two of your long-term financial goals, and explain why these goals are important to you. List at least three steps that might help you accomplish this goal. (4-6 sentences. 2.0 points) ~Three long-term financial goals I have are to be able to pay for college, buy a house, and open a tattoo shop. Some steps I could take to achieve the goal of paying for college is to choose an in-state college to go and get as many scholarships I can to cover the costs of some other things. To buy a home I could ask for a loan from the bank and slowly pay of the debt over time. I could do the same thing for starting a tattoo shop.
4. Describe an example of a common financial resource, an expense, and a debt. These can be examples from your own life or from other people you know or can imagine. (3-6 sentences. 3.0 points)
~An example of a financial resource is a share. An example of an expense is food from a fast food restraint. An example of a debt is college loans. 5. Describe a real or made up but realistic example of earned income that you or someone you know has received. What type of work was the income from? Was the income in the form of a salary or wages? (1-2 sentences. 1.0 points)
~An example of earned income that I received is when I worked for the zoo over the summer, and the form of income was in wages. I assisted in taking care of children, giraffes, and stingrays. 6. Describe a real