Setting Financial Goals
A worksheet for 7th graders to learn about setting and achieving financial goals, including short-term and long-term goals.
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Setting Financial Goals
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Read each question carefully and answer to the best of your ability. This worksheet will help you understand how to set and achieve financial goals.
1. What is the main purpose of setting a financial goal?
To spend all your money quickly
To have a plan for your money and achieve something specific
To avoid saving money
To impress your friends
2. Which of the following is an example of a short-term financial goal?
Saving for retirement
Buying a house
Saving for a new video game in 3 months
Paying for college tuition
3. A financial goal that you plan to achieve within a year is considered a goal.
4. The first step in setting a financial goal is to make it and measurable.
5. It is important to track your progress when working towards a financial goal.
True
False
6. Long-term financial goals are typically achieved in less than six months.
True
False
7. Describe one short-term financial goal you might set for yourself and how you would plan to achieve it.
8. Why is it important to differentiate between needs and wants when setting financial goals?
Think about how saving money can help you reach your goals. Here is an illustration of a bank building, where people often keep their savings.
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