Question

Read the paragraph.

Answer 1

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Answer 2

These activities support the central idea of financial planning:

1. saving money in a piggy bank ( If a kid keeps money, then she/ she will be able to spend it on items she / he needs. The need may come in the future not at the moment the kid has her/ his pocket money).
2. investing extra money to earn interest ( If a person has extra money from her/ his salary, this money can be saved and increased. The amount of money gets increased if this is put in a fixed-rate account at the bank. The higher the rate, the more money the investor gets).
3. purchasing stock in a growing company ( Money can be used to buy some stocks from a company. If the company is not very big, the stocks will be unexpensive. The company uses that money and grows. The bigger the company gets, the higher the value of the stock gets).

These options are not right:

-making impulsive candy purchases ( Financial planning goes against impulses and against buying useless things).

-spending lavishly as a personal reward ( Same explanation as above).