Earning and Spending Unit Test
5 of 155 of 15 Items
Question
Which of the following is an example of how financial goals change due to a value shift?(1 point)
Responses
buying a new wallet due to wear and tear to your current wallet
buying a new wallet due to wear and tear to your current wallet
moving from the city to suburbs after having children
moving from the city to suburbs after having children
replacing a new phone after losing your old phone
replacing a new phone after losing your old phone
selling your old computer online to have funds for a new computer
moving from the city to suburbs after having children
Moving from the city to suburbs after having children is an example of how financial goals change due to a value shift.
To determine which of the following is an example of how financial goals change due to a value shift, we need to understand the concept of financial goals and value shifts.
Financial goals refer to the objectives or targets people set for themselves regarding their finances. These goals can be short-term, such as saving for a vacation, or long-term, like investing for retirement. Value shift, on the other hand, refers to a change in someone's priorities, beliefs, or attitudes towards certain things.
To identify the option that represents an example of how financial goals change due to a value shift, let's analyze each response:
1. Buying a new wallet due to wear and tear to your current wallet. This does not necessarily involve a value shift but rather a practical need for a replacement.
2. Moving from the city to suburbs after having children. This can be seen as an example of a value shift where the priorities and needs of the individuals change due to starting a family.
3. Replacing a new phone after losing your old phone. Similar to the first option, this scenario is more about practicality and necessity rather than a change in values.
4. Selling your old computer online to have funds for a new computer. While this involves a financial transaction, it does not directly indicate a value shift.
Based on the analysis, the option that best represents an example of how financial goals change due to a value shift is moving from the city to suburbs after having children.