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Financial Literacy
Understanding personal financial literacy
Term | Definition |
---|---|
needs | what you must have to survive. |
wants | what you would like to have but do not need to survive. |
goals | what you want to achieve; help provide direction in life. |
values | strong beliefs, feelings or ideas about what you feel is important. |
consumer | a person who buys goods and services. |
advertisement | a message that persuades consumers to buy a product or services. |
trend | temporary fashion or product |
impulse buying | making a sudden decision to buy something you did not plan to purchase. |
income | the money you earn and receive regularly. |
decision | a choice you make about what to do or say in a given situation. |
opportunity cost | The cost we pay when we give up something to get something else. |
long term goal | A goal that can be achieved in months, years, or even an entire lifetime. |
short term goal | A goal that can be achieved in a few days, weeks, or months. |
job | Work you do for money. |
career | Something you build by going to school and working jobs related to the career you want. |
entrepreneur | A person who starts his or her own business. |