What Aspect of Financial Planning Might You Discuss with a Friend

question 23

Multiple Choice

What aspect of financial planning might you discuss with a friend who buys fancy coffee drinks twice a day, visits the mall at least once a week for recreational shopping, and prefers impulse buying to carefully researched purchasing?

• A) Just do it.
• B) Nothing happens without a plan.
• C) Mind games and your money
• D) Waste not, want not - smart spending matters

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Definitions:

Procedural Memory

A type of long-term memory responsible for knowing how to perform different actions and skills, essentially the memory of how to do things.

Recall

The cognitive process of retrieving information from memory, which can range from remembering past events to recollecting learned facts.

Semantic Encoding

The process of encoding sensory information into memory in a meaningful way, associating it with concepts and knowledge already in memory.

Acoustic Encoding

The process of converting auditory information into a memory or cognitive representation in the brain.