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12 Cards in this Set

  • Front
  • Back
Financial goals -

Specific objectives that are accomplished through financial planning

Financial planning -

Managing money continuously through life in order to reach your financial goals

Financial well‐being -

Managing money in ways that build a sense of understanding, competence, and control

Well‐being -

Feeling good about one’s life

Needs -

Goods or services that are required for survival

Opportunity cost -

The value of the next best alternative that must be forgone as a result of a decision

Trade‐off -

Giving up one thing for another


A fundamental belief or practice about what is desirable, worthwhile, and important to an individual


The desire for goods and services that can increase our quality of life but are not absolutely necessary for our survival


Something a person intends to acquire, achieve, or accomplish in the future

Long Term Goal

A goal that will be attained in more than one year

Short Term Goal

A goal that will be attained in less than one year