Turn a savings wish into a goal with a date: test your skills
An amount, a date and a monthly number turn an intention into something you can finish. Answer each question to see the explanation; your score appears at the end.
This test checks that you can
- Write goals with an amount, a date and a monthly number
- Sort goals by time horizon
- Order goals so the first one protects the rest
- Practice
1. Which is a usable money goal?
- Practice
2. Where does money for a goal 8 months away usually belong?
- Practice
3. The monthly amounts add up to more than you can afford. What first?
- Key idea
4. Which statement best explains "A date turns a wish into a plan"?
- Key idea
5. Which statement best explains "Horizon decides where money sits"?
- Key idea
6. Which statement best explains "Three funded goals beat ten wishes"?
- Action plan
7. In the action plan, which step comes first?
- Mistake to avoid
8. Which of these is a mistake this lesson warns against?
- Mistake to avoid
9. Which of these is a mistake this lesson warns against?
You want $1,800 for a holiday in 9 months and $600 for gifts in 6 months. How much per month in total?
Show the answer
$300 a month
$1,800 ÷ 9 = $200. $600 ÷ 6 = $100. $200 + $100 = $300.
Pick one goal. Write its amount and date, divide to get the monthly number, and schedule that transfer for your next payday.