1. Once a financial plan is in place by an individual there is no need to ever change it. True or False

2. To achieve your financial goals you will need to measure your financial health and develop a plan and a budget. True or False

3. A personal balance sheet is a statement of your financial position over a certain time period. True or False

4. To determine your level of net worth subtract your assets from what you owe. True or False

5. Current liabilities are those that must be paid off within the next year. True or False