The most effective way to start your financial planning journey is by setting specific, achievable goals. Use tools like cash equivalents, stocks and bonds to increase cash flow and build wealth.
Watch the video to learn how to Assess and Set SMART Goals, then test your knowledge at the end of the lesson.
Negative cash flow occurs when you spend more than you have, while positive cash flow means you have extra money after covering expenses.
A. True
B. False
In order to determine your net worth, you should:
A. Divide the total amount of your debts and liabilities by your total assets
B. Divide the total amount of your assets by your debts and liabilities
C. Subtract the value of your assets from the cost of your liabilities
D. Subtract the cost of your liabilities from the value of your assets
Which of the following is true about stocks?
A. Stocks provide dividends and can increase in value
B. Stocks are generally bought and sold through stock exchanges
C. Stocks represent a percent ownership in a company
D. All of the above