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 (1)
Short-term financial goals are typically achieved within a year, are more immediate, and require less planning compared to long-term goals, which take several years to accomplish and often need detailed strategies. Understanding these differences aids effective financial management. Examples include saving for a vacation (short-term) versus retirement savings (long-term). ;
