Question

4.

Personal financial success is primarily the result of:
Managing your money behavior
Winning the lottery
Generous welfare and unemployment programs
Inheriting money from your parents

Answer 1

Personal financial success is primarily the result of managing money behavior and starting to save money early in life. It is not primarily the result of winning the lottery or inheriting money from parents. Generous welfare and unemployment programs can provide temporary assistance, but they are not a guarantee of long-term financial success.

Step-by-step explanation:

Personal financial success is primarily the result of managing your money behavior and starting to save money early in life. It is not primarily the result of winning the lottery or inheriting money from your parents. Generous welfare and unemployment programs can provide temporary assistance, but they are not a guarantee of long-term financial success.

When it comes to managing your money behavior, it is important to develop good financial habits such as budgeting, saving, and investing wisely. This includes making informed decisions about spending, avoiding unnecessary debts, and setting financial goals. Starting to save money early in life allows you to take advantage of compounding interest and gives your savings more time to grow. By consistently saving a portion of your income and making wise investment choices, you can build wealth over time.

Answer 2

Managing your money behavior

Step-by-step explanation:

Personal finance is the management of individual financial activities of generating income and expenditure. It involves the process of setting personal financial goals and making plans on how to achieve them. Personal finance entails developing personal budgets, savings and investment plans to achieve short term and long term financial goals.

Individuals may need to hire personal finance managers to help them manage their finances. The role of the personal-finance manager is to advise and help in the making and implementation of financial goals. Personal finance involves managing money behavior to achieve the desired results.