Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
32 Cards in this Set
- Front
- Back
|
Knowing the facts, concepts, principles and the technical tools fundamental to being smart about your money
|
Financial Literacy
|
|
|
The study of personal and family resources important to financial success
|
Personal Finance
|
|
|
The achievement of financial aspirations that are desired, planned, or attempted; defined by the individual
|
Financial Success
|
|
|
The way we can afford to live today and make ends meet
|
Level of Living
|
|
|
How we want to live financially
|
Standard of Living
|
|
|
A steady rise in the general level of prices; occurs when the supply of money rises faster than the supply of goods and services available for purchase because of excess demand or sharply increasing production
|
Inflation
|
|
|
The price of money
|
Interest
|
|
|
The value of an asset projected to the end of a particular time period
|
Future Value
|
|
|
The current value of an asset that is to be received in the future
|
Present Value
|
|
|
When interest on an investment itself earns interest
|
Compounding
|
|
|
Finding employment that will use your interest and abilities and will support you financially
|
Career Planning
|
|
|
The lifework chosen by a person to use personal talent, education, and training
|
Career
|
|
|
The process of developing and implementing a coordinated series of financial plans to help achieve financial success
|
Financial Planning
|
|
|
Documents used to record both future and actual income and expeditures for a period of time
|
Budget
|
|
|
The process of projecting, organizing, monitoring, and controlling future income and expeditures
|
Budgeting
|
|
|
Actually recording income and expenses and making sure money is available for upcoming expenses
|
Cash Flow
|
|
|
A tax that takes a larger percentage of income from higher-income taxpayers
|
Progressive Taxes
|
|
|
A tax that takes a larger percentage of income from lower-income taxpayers
|
Regressive Taxes
|
|
|
The tax applied to your last dollar of earnings
|
Marginal Tax Rate
|
|
|
Criminal charge
|
Tax Evasion
|
|
|
The speed and ease with which assets can be converted to cash
|
Liquidity
|
|
|
A savings account where you agree to leave your money for a certain amount of time at a fixed interest rate
|
Certificate of Deposit
|
|
|
The nation's broadest measure of economic health, it reports how much economice activity (all goods and services) has occurred within the U.S. borders during a given period
|
(GDP) Gross Domestic Product
|
|
|
Tracks the number of jobs created every month
|
Employment Record
|
|
|
A composite index reported monthly by the Conference Board that collects relevant economic data for business, governments, and individuals' use
|
(LEI) Index of Leading Economic Leaders
|
|
|
Gives a sense of consumers' willingness to spend, which spurs the economy
|
Consumer Confidence Index
|
|
|
An employer-sponsored plan that gives the employee a choice of selecting either cash or one or more qualifying nontaxable benefits
|
Flexible Benefit Plan or Cafeteria Plan
|
|
|
The qualities that allow you to preform physically, mentally, artistically, mechanically, or financially job-ralted tasks.
|
Abilities
|
|
|
Evaluating what you have been doing in your life
|
Experiences
|
|
|
The principles, standards, or qualities considered worthwhile or desirable
|
Values
|
|
|
The process of making and using contacts, such as individuals, groups, or institutions, to obatain and exchange information in career planning
|
Professional Networking
|
|
|
Depicted as a wavelike pattern of rising and falling economic activity
|
Business Cycle
|
