Why Is It Important to Monitor and Revise Your Financial

question 81

Multiple Choice

Why is it important to monitor and revise your financial plan from time to time?

• A) Your financial position changes over time as does your personal, job, and family situation.
• B) As you get older you will want to lower your goals.
• C) So that you remember the goals you were striving for.
• D) You may decide enjoying consumption now is more important than saving for retirement years.

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Definitions:

Other Individuals

refers to people outside of oneself, often mentioned in context of social interactions, influence, or comparison.

Impression Management

The process by which individuals control the perceptions others form of them, often by strategically manipulating information in social interactions.

Basic Tactics

Fundamental strategies or actions taken to achieve short-term objectives and respond to immediate operational challenges.

Assigning Personal Attributes

The process of attributing personal characteristics or qualities to individuals or entities.