Questions from Personal Finance


Q: Why is it important to track your expenditures for a few months

Why is it important to track your expenditures for a few months? How does this practice impact your budget?

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Q: Why is it important to keep financial records stored in a safe

Why is it important to keep financial records stored in a safe location? List some important documents that you should keep in a safe place.

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Q: How does budgeting fit into your financial plan? How is your

How does budgeting fit into your financial plan? How is your financial plan affected by your spending? What is the budgeting trade-off?

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Q: Explain why having very specific goals is important for financial planning.

Explain why having very specific goals is important for financial planning.

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Q: Why is it important to integrate the components of your financial plan

Why is it important to integrate the components of your financial plan?

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Q: How does time affect your financial plan?

How does time affect your financial plan?

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Q: In the previous question, you decide to pay off the car

In the previous question, you decide to pay off the car loan and invest the difference. Now you no longer have a $350 per month car payment. Suggest some ways you might use these additional funds.

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Q: How does purchasing car insurance and homeowner’s insurance help protect and maintain

How does purchasing car insurance and homeowner’s insurance help protect and maintain your wealth?

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Q: How does life insurance protect your wealth? Who needs life insurance

How does life insurance protect your wealth? Who needs life insurance?

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Q: Explain how excessive spending can prevent effective financial planning.

Explain how excessive spending can prevent effective financial planning.

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