Financial Goal: Definition & Examples


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question 1 of 3

Valerie intends to pay off her furniture loan in 15 months. This is an example of which type of goal?

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1. Financial goals are targets, usually driven by specific _____ financial needs.

2. You invest $100 today, and one year from now you will have $112. What is the $112 referred to as?

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About This Quiz & Worksheet

In this quiz and worksheet combo, you'll be tested on the basics of financial goals. You'll need to be able to define financial goals, explain the steps in setting financial goals, and understand the different types of financial goals.

Quiz & Worksheet Goals

Use these assessment tools to test your knowledge of:

  • The definition of financial goals
  • Different time frames for achieving financial goals
  • How to increase savings through interest
  • The steps in reaching a financial goal

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the related lesson on financial goal setting
  • Critical thinking - apply relevant concepts to examine information about financial goals in a different light
  • Distinguishing differences - compare and contrast topics from the lesson, such as long-term goals and short-term goals

Additional Learning

To ensure your understanding of the financial goal setting process, review the accompanying lesson, Financial Goal: Definition & Examples. The lesson covers the following objectives:

  • Describe financial goals
  • Identify different types of financial goals
  • Learn how interest can affect financial goals
  • Follow the process for setting financial goals