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7.01 Vocabulary
| Term | Definition |
|---|---|
| Advocacy | The act or process of writing or speaking in favor of, or about a cause |
| Altruism | The principle or practice of unselfish concern for the welfare of others |
| Crowd funding | The practice of funding a project or venture by raising small amounts of money through donations from a large amount of people, typically raised via the Internet |
| Estate Plan | A clear outline for what should happen upon the death of an individual |
| Expense | Money spent |
| Financial Planning | Managing money in ways that build a sense of understanding, competence, and control |
| Healthy Giving | When an individual gives out excess in his or her life and the act provides positive emotions for both the giver and the receiver |
| Opportunity Cost | The value of the next best alternative |
| Philanthropy | The desire to promote the welfare of others, expressed especially by the generous donation of time and/or money to worthy causes |
| Pro-Social Spending | Money spent on others |
| Public Service Announcement (PSA) | Print advertisement or broadcast commercial on TV or Radio, intended to change attitudes by raising awareness about specific issues |
| Resources | Anything that can be utilized to meet an objective. It can include human capital, money, time, emotion, and more |
| Social Capital | Personal investment of time through social interactions that builds trust and enables participants to act together more effectively to pursue shared objectives |
| Social Enterprise | An organization that applies commercial strategies to maximize improvements in human and environmental well-being, rather than maximizing profits for shareholders |
| Spending Plan | An income and expense statement sometimes referred to as a budget which records both planned and actual income and expenses over a period of time |
| Time Utility | Concept that refers to satisfaction received from time given up |
| Trade-off | Giving up one thing for another |
| Unhealthy Giving | Produces diminished well-being for both the giver and the receiver |
| Utility | Measure of satisfaction |
| Value | A fundamental belief or practice about what is desirable, worthwhile, and important to an individual |
| Well-being | Feeling good about one's life |
Created by:
brooke.burgess
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