How do opportunity costs relate to the choices you make when you set financial goals? Select one: O a. When it comes to making purchases now, they describe the price you pay to just say no. on O b. When you see the opportunity costs of your financial choices, you always know exactly what to do and what not to do O c. When you've got financial goals, making decisions can cost you in the immediate, short, mid, and long term. Use a pro versus con method to visualize the cost of your decision and make the best decision for you. O d. There are no opportunity costs when it comes to setting financial goals. All of the following are examples of discretionary expenses, EXCEPT: Select one: O a. A two-week vacation to Europe 1 son O b. Designer clothes O c Transportation to and from work O d. Birthday gifts for each of your family members 6 Your financial personality and philosophy can: of 1 estion Select one: a. Be out of sync and require alignment to support and achieve your goals. b. Be the same, meaning your attitude and your beliefs about money match your financial actions. c. Be different, and without some thought, make it difficult to accomplish your financial goals. d. All of the above How do goals relate to money management? Select one: O a. You have to have money and lots of financial experience to set financial goals and create a plan to work toward them. O b. Goals relate to time, and understanding your goals in relation to time helps you understand how to plan to achieve your financial goals. O c. Goals are important, but timing is everything when it comes to money management. O d. Goals are not an important part of money management. An intangible asset is: Select one: O a. A type of asset that can quickly be turned into cash. O b. A type of asset that is saved for a specific expense. c. A type of asset that is a nonphysical resource that has value, like a patent. d. A type of asset that is not regularly purchased or sold, 6:17 10/12 Your monthly rent is an example of which type of expense: Select one: O a. Fixed O b. Variable O c. Discretionary O d. None of the above If you want to save $30,000 to buy a home in 5 years, how much will you need to set aside from each paycheck to reach this goal? (Assume you get paid monthly and that you accrue no interest on your savings.) Select one: O a. $100 on O b. $300 O c. $500 O d. $800