Ask questions to develop further personal understanding of how to make informed purchases. (Professional Skills: Self-Advocacy)
Determine the opportunity cost when making a choice (PFL).
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Financially capable individuals understand that personal financial goal setting is a lifelong activity and short-term goal setting is essential to that process.
Financially capable individuals make purchase decisions based on such things as quality, price, and personal goals.
Set goals and develop strategies to remain focused on learning and reaching their financial goals. (Personal Skills: Perseverance/Resilience)
Financially capable individuals use technology to track and graph the interest accrued on “virtual” investments, checking and savings accounts, investments, and loans.
Why is personal financial goal setting important?