UCA Personal Finance Institute-Chapter 1 Vocabulary
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| assets | What you own
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| retirement planning | Determining how much money you should set aside each year for retirement and how you should invest those funds.
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| personal financial plan | A plan that specifies your financial goals and describes the spending, financing, and investing plans that are intended to achieve those goals.
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| insurance planning | Determining the types and amount of insurance needed to protect your assets.
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| net worth | The value of what you own minus the value of what you owe.
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| opportunity cost | What you give up as a result of a decision.
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| budget planning | ______ ______ is the process of forecasting future expenses and savings.
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| liquidity | Your ability to access funds to cover any short
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| estate planning | Determining how your wealth will be distributed before or upon your death.
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| risk | Uncertainty surrounding the potential return on an investment.
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To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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