Which Considerations Are Important for Making Large Expenditures?

Which would be most helpful when considering a large expenditure that might require repeating payments? Check all that apply.

careful consideration of short-term goals

recording income and spending over the past year

creating a budget to consider future income and spending

learning more about different kinds of accounts to manage money

learning about opportunity cost

ANSWERS: 1, 2, 3, and 5

The answer is:

1. careful consideration of short-term goals

2. recording income and spending over the past year

3. creating a budget to consider future income and spending

5. learning about opportunity cost

You could include all goals that need less than 3 months to be actualized as Short-term goals. Recording income and spending allows you to make predictions of the amount of expenditures that you must pay for the following years. Opportunity cost would help you understand the things that you need to sacrifice in order to obtain maximum value in your life.

Answer: 1, 3, 5

Explanation:

1: careful consideration of short-term goals

3: creating a budget to consider future income and spending

5: learning about opportunity cost