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| Term | Definition |
|---|---|
| Goal | Something that you are trying to accomplish in the future |
| Financial Planning | When you figure out how you're going to spend your money in the future |
| Financial Goal | Something that you try to accomplish with your money |
| Short-Term Goal | Something you try to accomplish in the near future (1 year or less) |
| Long-Term Goal | Something you try to accomplish in the further future (more than a year) |
| Trade-Off | When you sacrifice one thing or another |
| Opportunity Cost | The value of the next best option |