Question

developing financial goals

• provides a for a plan and a target which can be focused upon
• involves considering obvious but also goals which may not be initially thought of as financial

○ for example, having a monthly savings plan might be obvious, while the goal of a new laptop after graduation may not seem financial,
considering the cost of the laptop should be included in the financial plan

• can involve future expenses and including them in the financial plan, which means sacrifices somewhere in the budget will not have to be

made at a later date

• can be impacted by personal values, and wants

personal values

• are the or what is desirable, worthwhile and important to an individual
• are influenced by family, friends, beliefs, work/career, media, laws and stages of the
• guide an individuals needs and

Explanation:

• For "Developing Financial Goals":
• "Provides a [direction] for a plan and a target which can be focused upon" as direction gives a sense of orientation for the plan.
• "Involves considering obvious [needs] but also goals which may not be initially thought of as financial" because needs are basic elements in financial planning.
• "for example, having a monthly savings plan might be obvious, while the goal of [buying] a new laptop after graduation may not seem financial" as buying is the action related to the laptop goal.
• "Can involve [anticipating] future expenses and including them in the financial plan" as anticipating future costs is a key part of financial planning.
• "Can be impacted by personal values, [objectives] and wants" as objectives align with the idea of financial goals.
• For "Personal Values":
• "Are the [fundamental beliefs] or what is desirable, worthwhile and important to an individual" as fundamental beliefs define what is important.
• "Are influenced by family, friends, [religious] beliefs, work/career, media, laws and stages of the [lifecycle]" as religious is a type of belief and lifecycle stages matter.
• "Guide an individual’s needs and [wants]" as values influence both needs and wants.

Answer:

• Developing Financial Goals:
• First blank: direction
• Second blank: needs
• Third blank: buying
• Fourth blank: anticipating
• Fifth blank: objectives
• Personal Values:
• First blank: fundamental beliefs
• Second blank: religious
• Third blank: lifecycle
• Fourth blank: wants