Ethan has set a long-term financial goal to own a coffee shop in ten years. He should break this goal into short-term goals. Which of the following goals is a good and useful short-term goal?

I will earn a college degree in business from University of Vermont by the time I am twenty-two years old.

I will save $100,000 in ten years.

I will save $2,600 in one year by depositing $50 dollars per week in a savings account.

I will save $100 per paycheck.

I will attend college.

Question

Kathryn Randall

Social Studies

2 August, 17:08

Ethan has set a long-term financial goal to own a coffee shop in ten years. He should break this goal into short-term goals. Which of the following goals is a good and useful short-term goal?

I will earn a college degree in business from University of Vermont by the time I am twenty-two years old.

I will save $100,000 in ten years.

I will save $2,600 in one year by depositing $50 dollars per week in a savings account.

I will save $100 per paycheck.

I will attend college.

+2

Answers (1)

Know the Answer?

Nadia Allen · Answer 1

Well, as a graduate of UVM, I like the first one!

It would seem that ALL of the options are good with the caveat that college is not the right option for everyone.

If Ethan's goal is to open a coffee shop, saving money is a great way of having the necessary capital.

But, Ethan might want to consider taking classes at the local community college on business planning to get more tangible skills at a lower price than more finance related classes at UVM or elsewhere.