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Finance

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Term
Definition
the S in SMART Goal   specific  
The M in SMART Goal   measurable  
The A in SMART Goal   attainable  
The R in SMART Goal   realistic  
The T in SMART Goal   Time-bound  
Representative money   money or pieces of paper that are not intrinsically valuable themselves, but can be exchanged for a specific commodity  
Commodity Money   the item was traded had held value. For example the value of a coin depended upon the amount of gold or silver it contained.  
Fiat Money   similar to Representative money except it can not be redeemed for a commodity, such ad gold or silver.  
value   something worthwhile, desirable. and important  
need   something necessary or required for life  
want   something unnecessary but desired  
decision   a choice made about things that affect a person's life  
routine decisions   made on a day to day basis, don't require a lot of thought, they can become a habit in daily life  
major desicions   have a long term effects on a person's life, should be made very carefully and with a lot of thought  
Financial decisions   a type of major decision, impacts an individual's or family's well being  
goal   something a person intends to accomplish  
short term goal   can be accomplished in less than one year  
long term   can be accomplished in more than one year  
educational goal   helps individuals prepare for success in the workplace  
financial goal   goal that guides financial planning  


   






 
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