Personal Finance - Ch. 1: Money Matters - Walker

Front 1

Financial plan

Back 1

Goal-based activity related to future income, spending, investment, protection, and giving

Front 2

Money personality

Back 2

Style and habits of money management

Front 3

Personal values

Back 3

Those things that are most important to you and to which you must be true to lead a happy and fulfilled life

Front 4

Voluntary simplicity

Back 4

A simplified lifestyle, where uncalled consumption and clutter are reduced

Front 5

Frugal

Back 5

Avoiding waste; to be resourceful when fulfilling one's need for goods and services

Front 6

Enough

Back 6

Point at which spending has a diminished rate of fulfillment

Front 7

90-10 rule

Back 7

Saving 10% of income and living on 90%

Front 8

80-10-10 rule

Back 8

Living on 80% of income, saving 10%, and giving 10%

Front 9

Personal financial success

Back 9

Achieving financial goals and living life in accordance with your values, vision, and mission

Front 10

Personal financial success

Back 10

Achieving financial goals and living life in accordance with your values, vision, and mission

Front 11

Financial independence

Back 11

Sufficient means to support oneself

Front 12

Personal financial success

Back 12

Achieving financial goals and living life in accordance with your values, vision, and mission

Front 13

Financial independence

Back 13

Sufficient means to support oneself

Front 14

Passive income

Back 14

Income received from investments and savings

Front 15

Personal financial success

Back 15

Achieving financial goals and living life in accordance with your values, vision, and mission

Front 16

Financial independence

Back 16

Sufficient means to support oneself

Front 17

Passive income

Back 17

Income received from investments and savings

Front 18

Non-earned income

Back 18

Defined by the IRS as income from investments

Front 19

Understand your current relationship with money

Back 19

First step in your foundation of your financial plan

Front 20

Understand your current relationship with money

Back 20

First step in your foundation of your financial plan

Front 21

Identify your values

Back 21

Second step in the foundation of your financial plan

Front 22

Understand your current relationship with money

Back 22

First step in your foundation of your financial plan

Front 23

Identify your values

Back 23

Second step in the foundation of your financial plan

Front 24

Assess methods for achieving your goals

Back 24

Third step in the foundation of your financial plan

Front 25

Understand your current relationship with money

Back 25

First step in your foundation of your financial plan

Front 26

Investment account

Back 26

Outlay of money into a bank or stock with the objective of making a profit

Front 27

Personal finance plan

Back 27

Strategy to improve current financial situation based on an analysis of your liabilities, cash flow, savings, investments, and long-term accumulation plans

Front 28

Financial life stages

Back 28

General periods throughout a lifetime representing different financial challenges and needs

Front 29

Personal mission statement

Back 29

Formal statement that reflects one's strengths, passions, gifts, and stakeholders

Front 30

Long-term goal

Back 30

Objective to be reached sometime after 5 years

Front 31

Intermediate goal

Back 31

Objective to be attained in one to five years

Front 32

Short-term goal

Back 32

Objective to be reached in less than one year

Front 33

SMART goal

Back 33

Objective that is specific, measurable, achievable, realistic, and timely

Front 34

Identify your values

Back 34

Second step in the foundation of your financial plan

Front 35

Assess methods for achieving your goals

Back 35

Third step in the foundation of your financial plan

Front 36

Create a vision for your future

Back 36

Step 4 in the foundation of your financial plan

Front 37

Establish your mission statement

Back 37

Step 5 in the foundation of your financial plan

Front 38

Set your goals

Back 38

6th and last step in setting the foundation of your financial plan

Front 39

Financial literacy

Back 39

Ability to understand finances

Front 40

401k retirement plan

Back 40

Money set aside to be used after the worker retires

Front 41

Downshifting

Back 41

Giving up all or part of one's work commitment and income in exchange for an improved quality of life

Front 42

Dollar cost averaging

Back 42

Investing a fixed dollar amount at regular intervals