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Personal Finance

Term 1

TermDefinition
Emotional Well-Being How you feel; managing your emotions, stress levels, and self esteem.
Financial Goals Specific objectives that are accomplished through financial planning.
Financial Planning Managing money continuously through life to reach financial goals.
Financial Well-Being Managing money in ways that build a sense of understanding, competence, and control; managing finances, debt levels, and financial security.
Intellectual Well-Being Gaining and using knowledge; learning, curiosity, and mental stimulation.
Physical Well-Being Taking care of your body; physical fitness, nutrition, and overall bodily health.
Social Well-Being Having a sense of belonging; having a network of friends and family.
Well-Being Feeling good about one's life.
Needs Goods or services that are required for survival.
Opportunity Cost The value of the next best alternative that must be forgone as a result of a decision.
Trade-Off Giving up one thing for another.
Value A fundamental belief or practice about what is desirable, worthwhile, and important to an individual.
Want The desire for goods and services that can increase our quality of life but are not absolutely necessary for our survival.
Created by: user-1907235
 

 



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