Personal Finance 1 Word Scramble
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Term | Definition |
Need | Goods or services that are reqired 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 out survival |
Goal | Something a person intends to acquire, achieve, or accomplish in the future. |
Financial Goals | Specific objectives that are accomplished through financial planning |
Short-term Goal | A goal that will be attained in less than one year |
Financial Planning | Managing money continuously through life in order to reach your financial goals |
Long-term Goal | A goal that will be attained in more than one year |
Specific | Clearly defined end result |
Measurable | write exactly when you know the goal is met |
Attainable | Make a step-by-step plan, outlining how the goal can be reached. |
Realistic | For the goal to be pssible |
Time Bound | State when the goal must be reached |
Created by:
samantha.parks
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