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A financial goal that would be important in all stages of the life cycle is creating and maintaining an emergency fund.

Estimating expenses using actual expenses from previous years and tracking current expenses make the task of preparing a cash budget easier.​

​A cash budget has value only if you use it, review it regularly, and keep careful records of income and expenses

Estimating expenses using actual expenses from previous years and tracking current expenses make the task of preparing a cash budget easier.​

​You have a balanced budget when your total income for the year equals or exceeds your total expenditure for the year.

The need for financial planning declines as your income increases.

​If you obtain a loan to purchase a car in June, this loan amount will be included as income for the month of June.

The need for financial planning declines as your income increases.

Cash is the only kind of liquid asset.

Debit cards are a form of EFTS.