# CTE Resource Center - Verso - Economics and Personal Finance Task 1064065655

CTE Resource Center - Verso

Virginia’s CTE Resource Center

Identify short-term and long-term personal financial goals.

Definition

Identification should include
  • a definition of short-term financial goals, which require money beyond what is normally allowed by a budget (e.g., for emergencies, vacations, social events, major purchases, gifts, celebrations)
  • a definition of long-term financial goals, which are usually anticipated major purchases that require saving (e.g., for home ownership, education, retirement, investments)
  • a statement of personal short-term and long-term financial goals and ways to accomplish them.

Other Related Standards

Economics and Personal Finance Standards of Learning

EPF.17

The student will demonstrate knowledge of personal financial planning by
  1. identifying short-term and long-term personal financial goals;
  2. identifying anticipated and unanticipated income and expenses;
  3. examining components and purposes of a personal net worth statement;
  4. developing a personal budget;
  5. investigating the effects of government actions and economic conditions on personal financial planning; and
  6. explaining how economics influences a personal financial plan.

FBLA Competitive Events and Activities Areas

Economics

 

Introduction to Business

 

Personal Finance