PF Money Management
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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| Value | a fundamental belief or practice about what is desirable, worthwhile, and important to an individual
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| Want | the desire for goods and services that can increase our quality of life but are not absolutely necessary for our survival
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| Need | goods or services that are required for survival
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| Trade-Off | giving up one thing for another
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| Opportunity Cost | the value of the next best alternative that must be forgone as a result of a decision
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| Goal | the end result of something a person intends to acquire, achieve, do, reach, or accomplish sometime in the near or distant future
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| Financial Planning | managing money continuously through life in order to reach financial goals
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| Financial Goals | specific objectives (or goals) that are accomplished through financial planning
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| Asset | Everything a person owns with monetary value
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| Liabilities | A debt or obligation owed to others
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| Spending Plan | An income and expense statement sometimes referred to as a budget which records both planned and actual income and expenses over a period of time
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| Depository Institution | businesses that provide financial services
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| FDIC | Insures banks and other types of institutions other than credit unions; up to $250,000 per depositor for each account ownership type
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| NCUA | Insures credit unions for same amount as FDIC
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| Interest | the price paid for using someone else’s money
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| Interest Rate | An annual percentage rate used to determine interest earned or charged
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| Checking Account | Provides quick access to funds for transactions
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| Savings Account | An account for money not intended to be used for daily expenses; access is more limited than a checking account
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| Overdraft Fee | Charged if you withdraw more money from your account than is available
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| ATM Fee | Charge for using an ATM that belongs to another depository institution
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| Minimum Balance Fee | Some accounts have a minimum account balance; fee charged if you go below that balance
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| Check 21 Act | Shortens the time that money is taken out of an account
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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:
C.Westcott
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