Household size is a major influence on personal financial planning decisions.

Question

Quizplus · Accepted Answer

Household size affects many aspects of personal financial planning, such as budgeting, saving, investing, and insurance needs. The larger the household, the more expenses there may be for food, utilities, and other necessities. The number of family members also impacts the types and amounts of insurance coverage needed, and can affect long-term financial goals such as college savings or retirement planning.

Household Size Is a Major Influence on Personal Financial Planning