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Personal Finance
Vocab words
Term | Definition |
---|---|
Value | is a belief or practice of what is important desirable and worthwhile to an individual. |
Need | is an item that is necessary for life. |
Want | is something that is unnecessary to life but is desired. |
Decision | a choice that effects a persons life. |
Routine | something done on a daily basis. |
Major | long-term effects on a persons life. |
Financial decision | impacts a persons well-being |
Well-being | the state of being happy healthy and prosperous. |
Decision making process | the components of making a good decision. |
Short-term goal | a goal that can be accomplished in 1 year or less. |
Long-term goal | a goal that can be accomplished in 1 year or more. |
Goal | something a person intends to accomplish. |
Educational goal | helps individuals prepare for the work place. |
Financial goal | specific objectives to be accomplished through financial planning |
Specific | state exactly what is to be done. |
Measurable | include how the goal can be measured. |
Attainable | determine steps to reach goal. |
Realistic | do not set unrealistic goals. |
Time bound | state when the goal will be met. |
Job | a specific task done as a part of the routine of one's occupation. |