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1.02Personal Finance

Goals and Decisions

TermDefinition
Goal Something a person intends to acquire, achieve, reach, or accomplish
Specific Exact, clearly defined or explained
Measurable A figure that can be objectively assessed---e.g, a measurable cost or time.
Attanible Able to be reached---e.g, a budget amount that can be realized
Realistic In keeping with reality, likely to happen
Time-Bound Containing a date when a goal is reached
Alternative An option or choice
Pro A reason in favor of an option; a potential benefit
Con A reason in opposition to at option; a potential limitation or weakness
Impulse A whim or sudden desire to do something; acting without thinking
Habit A learned behavior that is repeated over and over, usually without thinking
Cultural Related to the transition, belief, roles, and communication styles of a group
Societal Related to all people, collectively
Demographic statistical data about a population
Economic Related to the state of the economy, the financial balance of a population
Technology Product, resource, and system used for specific purposes
Media Print, sound, and image channels through which information is conveyed
Legal Related to the law
Moral Related to a sense of right and wrong
Need Something one must have in order to survive
Want Something one desires to improve quality of living that is not required to live
Value A fundamental belief about what is desired and worthwhile
Standard A measure of quality or exellance
Priority The relative importance a person places on a value, goal, or alternative
Created by: jamesjo1