Question

What are the four guidelines for setting financial goals?

Answer 1

The four guidelines for setting financial goals are specific, measurable, attainable, and timely.

Step-by-step explanation:

The four guidelines for setting financial goals are:

1. Specific: The goal should be detailed and clear, stating exactly what is expected.
2. Measurable: The goal should be quantifiable, allowing for observable progress.
3. Attainable: The goal should be realistic and attainable, taking into account resources and capabilities.
4. Timely: The goal should have a specific target date or deadline.

For example, a specific and measurable financial goal could be to save $500 per month for a down payment on a car over the next 6 months.