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12 Cards in this Set
- Front
- Back
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Financial goals -
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Specific objectives that are accomplished through financial planning |
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Financial planning -
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Managing money continuously through life in order to reach your financial goals |
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Financial well‐being -
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Managing money in ways that build a sense of understanding, competence, and control |
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Well‐being -
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Feeling good about one’s life |
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Needs -
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Goods or services that are required for survival |
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Opportunity cost -
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The value of the next best alternative that must be forgone as a result of a decision |
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Trade‐off -
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Giving up one thing for another |
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Value |
A fundamental belief or practice about what is desirable, worthwhile, and important to an individual |
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Want |
The desire for goods and services that can increase our quality of life but are not absolutely necessary for our survival |
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Goal |
Something a person intends to acquire, achieve, or accomplish in the future |
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Long Term Goal |
A goal that will be attained in more than one year |
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Short Term Goal |
A goal that will be attained in less than one year |
