Copyright Goodheart-Willcox Co., Inc. 11 Section 1.1 Introduction to Financial Literacy • Resources are related to one another. Multiple resources can be combined to reach a specific goal. For example, you might use both savings and credit to buy a big-ticket item, such as a car. In addition, one resource may be needed to produce or make use of another. You could use your talent and skills to get a job and earn money. Finally, you can use one resource to make up for the lack of another. For example, if you have plenty of time and little money, you can check several stores for the best values before buying. Everyone has different amounts and types of resources. Identifying all available resources will help you improve your management skills. Practicing good resource management will help you reach your goals. Goals After you have analyzed your needs and wants, values, and ethics, you can set goals for your financial plan. A goal is an objective to be attained in a specific amount of time. You will set and achieve many financial goals throughout your life. Creating financial goals is necessary so you can manage the money you earn. You can set goals for almost anything in life. There are different types of goals, such as to be goals, to do goals, and to have goals. To be goals are related to personality and character. You might want to be smart, popular, entertaining, reliable, relaxed, or competitive. This group of goals also includes career choices. You may want to be a teacher, an airline pilot, a scientist, or an artist. If you consider eventual job security important, completing michaeljung/Shutterstock.com After personal needs and wants, values, and ethics have been analyzed, goals can be set for a financial plan.