Values are things that people consider important in their life. When people value something, they are very likely to spend time and money on the valued item and to exhibit behavior that is in accordance with their values. Examples of things people value include family and friends, career success, security, good health, education, honesty, and material possessions.
Values are related to financial planning because they influence behavior and underlie financial goals. For example, if parents value education, they will be motivated to save for their children's college expenses. If individuals value a comfortable retirement, they will take measures to save money for retirement.
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