Setting and Achieving Financial Goals Quiz
Correct Answers and Explanations
Question 1: What does SMART stand for in goal setting?
Correct: A) Specific, Measurable, Achievable, Relevant, Time-bound
Explanation:
SMART goals are Specific, Measurable, Achievable, Relevant, and Time-bound. This framework helps create clear, actionable objectives.
Question 2: Which should typically be your first financial priority?
Correct: A) Building an emergency fund
Explanation:
Building an emergency fund should typically be your first priority as it provides financial security and prevents you from going into debt during unexpected situations.