How do short-term financial goals differ from long-term financial goals?
A. Short-term goals involve more planning than long-term goals.
B. Short-term goals are more affordable than long-term goals.
C. Short-term goals cost more than long-term goals in the long run.
D. Short-term goals are more immediate than long-term goals.
Answer (2)
Short-term financial goals are typically aimed at achieving objectives within a year, focusing on immediate financial needs, while long-term financial goals extend beyond a year and involve more extensive planning. This distinction helps individuals manage their finances more effectively. Thus, the correct answer is D: Short-term goals are more immediate than long-term goals.
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Short-term financial goals are aimed at achieving objectives within a year and are often immediate, while long-term goals extend beyond a year and involve more comprehensive planning. Both types of goals serve different purposes in a financial strategy. Understanding the distinction helps in effectively managing personal finances. ;
