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Lecture 2

CDAE 158 Lecture Notes - Lecture 2: Financial Plan, Interest Rate, Financial PlannerPremium

4 pages70 viewsFall 2018

Department
Cmty Dev & Apld Econ
Course Code
CDAE 158
Professor
Fritz
Lecture
2

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Developing Personal Financial Goals
- Can be influenced by the time frame in which you want to achieve your goals
- Can be influenced by the type of financial need that drives your goals
Timing of goals
- Short term (within the next year)
- Intermediate (one to five years)
- Long-term (more than five years): should be planned in coordination with short
term and intermediate goals
Goals for different financial needs
- Consumable-product goals
- Durable-product goals
- Intangible-purchase goals
Goals should be SMART:
- Specific
- Measureable: with a specific amount
- Action-oriented
- Realistic: utilizing your income and life situation
- Time-based
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