Argyll PF3
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Things you want to accomplish | Goals
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| Arranging to spend, save, and invest money to live comfortably, have financial security and achieve goals. | Personal Financial Planning
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| Approximate calculation of | Estimate
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| Money you owe to others | Debts
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| Beliefs and principles you consider important, correct and desireable | Values
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| Things you have to have to survive | Needs
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| First step of financial planning | Determine your current financial situation
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| Five types of financial risks | Inflation, Interest rate, income, personal, liquidity
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| Ability to easily convert financial assets to cash | Liquidity
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| Last step of financial planning | Review and revise your plan
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| Goals of less than a year | Short term
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| Goals from two to five years to achieve | Intermediate
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| Goals that take longer than five years to achieve | Long Term
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| Something performed for you | Service
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| A physical item you have or purchase | good
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| Goods you use up quickly | Consumable
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| Expensive goods which last years | Durable
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| Purchases you cannot touch | Intangible
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| Four guidelines when setting financial goals | Realistic, specific, clear time frame, help you decide what type of action to take
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| Person who purchases or uses goods and services | Consumer
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| Supply and demand are this type of force | Market Force
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| These are economic conditions that affect personal finance decisions | Prices, spending and interest rates
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| The increase of an amount of money due to earned interest or dividends | Time value of money
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| Original amount of money (investing or borrowing) | Principal
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| The amount your original deposit will be worth in the future based on earning a specific interest rate over a specific time | Future Value
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| A series of equal regular deposits | Annuity
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| The amount of money you would need to deposit now in order to have a desired amount in the future. | Present value
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| Eight strategies to avoid common money mistakes. | Obtain information, plan, spend wisely, save, borrow wisely, invest, manage risk and plan for retirement
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| This means you are going to consider your opportunity costs | Weigh
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| Three economic factors in personal financial planning | Market forces, financial institutions, global influences
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| Four sources of personal finance information | Internet, financial institutions, media (newspaper, magazines), financial specialists (financial planners, lawyers, tax preparers)
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
rholloway
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