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;
31 Cards in this Set
- Front
- Back
|
Affordability |
An important concept in helping people choose financial products, based on budgeting and forecasting to help individuals decide what they can afford to spend |
|
|
Aspirations |
Things that people would like to have in the future |
|
|
Attitudes |
Peoples thoughts and feelings at a given time and place about another person, an event or an issue. Usually quite general and limited. |
|
|
Beliefs |
Specific and detailed personal convictions about how things are. Can be religious or absolute or casual |
|
|
Capital |
The money or other assets owned by an individual or a business. The funds provided by the shareholders |
|
|
Consumer credit |
Another term used for borrowing |
|
|
Credit card |
Credit card a card that allows the holder to make a purchase face to face, online or over the phone and withdraw money from ATMs |
|
|
Culture |
A society’s set of norms about behaviour and attitudes across social groups. It indicates what society considers to be acceptable and unacceptable |
|
|
Deposit |
A sum of money place by a customer with a financial services provider |
|
|
Distribution channel |
The medium through which information is transferred to its intended recipient. The way in which a customer can contact their provider and manage their account |
|
|
Ethical investing |
When someone chooses to save in a way that means the money will be used for what that individual considers to be good purposes. |
|
|
Feedback effect |
The notion that thoughts and feelings have a direct influence on behaviour. As expectations can be self fulfilling, peoples own attitudes affect the outcome of events |
|
|
Hire purchase |
A type of secured consumer credit to a finance items such as cars and furniture, which involves the borrower repaying over a number of years |
|
|
Investments |
Money paid into a financial product aiming for the value of the product to grow over time receiving more money than they paid in. Saving for medium to long term |
|
|
Life assurance |
A type of insurance policy that pays out a sum of money if the insured per dies. |
|
|
Life cycle |
The stages through which people pass between birth and death. |
|
|
Marketing |
Advertising, selling and delivering products to customers. Everything a company does to acquire customers and maintain a relationship with them including promotion and public relations |
|
|
Mortgage |
A long term loan taken out to pay for a property |
|
|
Needs |
Things that people need to survive |
|
|
Peers |
Our equals - people in the same positions as us - same age |
|
|
Pension |
Income that people receive after retiring from work |
|
|
Personal loan |
A product that allows someone to borrow a fixed amount over a fixed period and a fixed amount of interest |
|
|
Product placement |
An aspect of public relations ( PR ) involving a product appearing in a tv show or in a film |
|
|
Promotion |
Paid for marketing activities including advertising |
|
|
Public relations ( PR ) |
A specific part of promotion know a ‘below the line’ expenditure. |
|
|
Repossession |
A legal process whereby a financial institution takes ownership of an assets, often a house because the loan repayment relating to that asset have not been met |
|
|
Risk tolerant |
Willing to talk risks |
|
|
Secured loan |
A loan secured against an assets such as a house. If the borrower does not keep up arrangements on the loan, the lender can seize the asset and sell it to recover the money owed |
|
|
Sponsorship |
An aspect of privilege relations involving a business paying for a sporting or entertainment event or venue. It can advertise at the event and can be included in the event or venue name |
|
|
Values |
General feelings about desirable behaviour and goals |
|
|
Wants |
This game that people would like to have but can survive without such as entertainment |
