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Personal Finance

First nine weeks! :D

TermDefinition
Values Something that is important to someone.
Needs Something necessary for life.
Wants Something unnecessary for life, but desired anyway.
Decision A choice made by someone that affects a person's life.
Routine Decision A decision that is made on a daily basis; doesn't need much thought.
Major Decision A decision that is not made as much, so it needs careful thought.
Financial Decision A decision that impacts a person's well-being.
Well-Being The state of being happy, healthy, and prosperous (not phosphorus, silly).
Decision-Making Process Four steps that include knowing the problem, brainstorming pros and cons, actually making the decision, and evaluating that decision.
Goal A set thing that someone can accomplish.
Short-Term Goal A goal that can be accomplished within one year.
Long-Term Goal A goal that can be accomplished in more than one year.
Educational Goal A goal that prepares an individual for success.
Financial Goal A goal that is to be made through financial planning.
SMART Goals Goals that are specific, attainable, measurable, realistic, and time bound.
Created by: 318880