Final answer:
Households' incomes can vary over their lifetimes, impacting financial decisions. Financial planning should consider both long-term objectives and short-term guidelines.
Explanation:
Households might have different income in different years, not constant like in our story, but increase over their lifetimes. Consumption needs may vary over one's lifetime, affecting current consumption and saving decisions. A financial plan should encompass both long-term goals and short-term guidelines for families.
Learn more about Financial Planning here:
https://brainly.com/question/29763313
