AFC Module 5 - Strategies to Attain Goals

Question 1

What are the rules to Brainstorming

Answer 1

Don’t censor (everything added to the list)
Don’t clarify (go back to it)
Don’t assign names
Do use other people’s ideas and thoughts

Question 2

Economic cycle (Business cycle)

Answer 2

The natural fluctuation of the economy between periods of expansion (growth) and contraction (recession).

Question 3

Expansion

Answer 3

A period of growth in the general economy.

Question 4

Inflation

Answer 4

A general increase in prices and accompanying fall in the purchasing value of money.

Question 5

Peak

Answer 5

The highest point in the economic cycle.

Question 6

Recession

Answer 6

A period of contraction in the general economy (often measured as three consecutive quarters of negative GDP growth.

Question 7

Trough

Answer 7

The lowest point in the economic cycle.

Question 8

Counselors should encourage clients to monitor progress toward goals? True or False

Answer 8

True.

Question 9

Tips to help you Master Goal Monitoring

Answer 9

Make Monitoring happen - Prompt clients to monitor their progress.
Note Progress - Monitoring has a great impact on goal achievement when progress is physically recorded.
Be transparent - Monitoring has a great impact on goal achievement when progress is shared publicly.

Track Spending - If a client establishes a spending plan in order to help them attain their goals, tracking spending relative to that plan will be instructive, revealing whether or not the client is performing as planned.

Track Progress - Comparing actual savings to planned savings at these periodic intervals will make it possible to both address deficiencies in their strategies and recognize their accomplishments.