vlac personal finance assignment 1
1. Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you personally. (4-6 sentences. 2.0 points)
2 important things financial planning skills can help you do is one, it can help you create budgets. creating budgets can help you save your money. Another thing it can help with is setting goals. this goes along with saving and creating budgets so you can afford, for example a car, or a house in the future.
2. List two examples of goods you have purchased in the past or may purchase in the future. (Complete sentences are not necessary. 0.5 points)
I haven’t really made any big purchases, I usually spend my money on little things I need and clothes. I do plan on making a big purchase in the near future for a car.
3. List two examples of services you have purchased in the past or may purchase in the future. (Complete sentences are not necessary. 0.5 points)
Um, we have to pay for snow plowing. A Purchase for a service i could make in the future is a taxi.
4. One of the functions of money is as a store of value. How does inflation affect money's ability to store value? (3-6 sentences. 2.0 points)
Inflation of money makes store value go up. The more available money is the more things will become expense. Also in reverse, if there is a lot of something store values isn’t as high. Opposed to something that’s a little more scarce, would be worth more in store value.
5. Imagine that you are considering moving to a new country and looking for a job there, but you first want to make sure the country has a strong economy. Describe at least three economic factors that you would want to research as evidence of the economy's strength or weakness, and explain how each factor would affect your decision to move there. (4-6 sentences. 3.0 points)
I mean, me personally first off I would take a look at the employment rate. Second I would see how much an average worker gets paid. Then I
2 important things financial planning skills can help you do is one, it can help you create budgets. creating budgets can help you save your money. Another thing it can help with is setting goals. this goes along with saving and creating budgets so you can afford, for example a car, or a house in the future.
2. List two examples of goods you have purchased in the past or may purchase in the future. (Complete sentences are not necessary. 0.5 points)
I haven’t really made any big purchases, I usually spend my money on little things I need and clothes. I do plan on making a big purchase in the near future for a car.
3. List two examples of services you have purchased in the past or may purchase in the future. (Complete sentences are not necessary. 0.5 points)
Um, we have to pay for snow plowing. A Purchase for a service i could make in the future is a taxi.
4. One of the functions of money is as a store of value. How does inflation affect money's ability to store value? (3-6 sentences. 2.0 points)
Inflation of money makes store value go up. The more available money is the more things will become expense. Also in reverse, if there is a lot of something store values isn’t as high. Opposed to something that’s a little more scarce, would be worth more in store value.
5. Imagine that you are considering moving to a new country and looking for a job there, but you first want to make sure the country has a strong economy. Describe at least three economic factors that you would want to research as evidence of the economy's strength or weakness, and explain how each factor would affect your decision to move there. (4-6 sentences. 3.0 points)
I mean, me personally first off I would take a look at the employment rate. Second I would see how much an average worker gets paid. Then I