Select all the correct answers.

Question

Which two of the following are positive outcomes of effective financial planning?

contributing less funds to investments
using credit cards when you run out of cash
spending more money with credit cards
contributing more funds to a charitable organization
spending less money on wants than on needs

Answer 1

The two positive outcomes of effective financial planning from the options provided are:

1. Contributing more funds to a charitable organization - Effective financial planning often allows individuals to allocate more resources towards charitable contributions.

2. Spending less money on wants than on needs - A good financial plan helps individuals prioritize their spending, which can lead to more thoughtful spending habits and better management of essential expenses over discretionary ones.

The other options are not positive outcomes and may indicate poor financial planning.