"one element of a financial goal is missing in the example below. which one is it? "i will save $150 each month to go on a vacation in one year.""

"SMART" financial goals are ones that are specific, measurable, attainable, relevant, and time-bound. This is a specific, relevant goal with a measurable amount of money and specific time frame but we do not know if this is attainable on this person's budget.

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dubeyshailja64 dubeyshailja64 · Answer 2 · 2022-02-11T08:36:00+01:00

The element of financial goal that is missing in the given example is attainability.

What are financial goals?

Financial goals refer to the targets set by any person to manage cash for future needs. Financial goals are clear and measurable milestones.

The financial goal should be attainable, which means that goals should be realistically set after considering all the elements such as incomes, expenses, and so on.

They should be properly combined with the income and should not be set at an unattainable level.

In the given example, it is unclear whether the plan is attainable with the current income or not.

Hence the correct answer is attainability.

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