Financial planning and informed choices Flashcards
1
Q
What is a short term want
A
A holiday
2
Q
What is a medium term want
A
A car
3
Q
What is a long term want
A
Retirement
4
Q
What are the 3 ways risk is measured
A
Impact, severity and probability
5
Q
What are the four stages of making an informed choice
A
Strength of want
Consider risk
Charges and penalties
Values
6
Q
What are the four external influences
A
Inflation, interest rates, unemployment and house prices
