Why might Lucy want to assign a cost to each of her life goals?

Prepare for the Edmentum Personal Finance Exam with flashcards and multiple-choice questions. Gain insights with explanations and hints for each question. Get ready for your test!

Assigning a cost to each of her life goals is essential for Lucy to have a clear understanding of the financial, time, and effort commitments necessary to achieve those goals. By evaluating the costs associated with her aspirations, Lucy can prioritize and plan effectively, ensuring that she allocates her resources wisely. This practice enables her to realistically assess which goals are feasible within her current circumstances and which might require adjustments, such as saving more money or dedicating more time and effort. This understanding can significantly enhance her ability to set achievable, structured plans for her future, directly leading her towards fulfilling her life ambitions.

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