Obj1.01-1.03 PF 2014 Word Scramble
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Term | Definition |
Financial Goals | Specific objectives that are accomplished through financial planning |
Financial Planning | Managing money continuously through life in order to reach your financial goals |
Financial Well-being | Managing money in ways that build a sense of understanding, competence, and control |
Well-being | Feeling good about one's life |
Goal | Something a person intends to acquire, achieve, or accomplish in the future |
Long-term Goal | A goal that will be attained in more than one year |
Opportunity Cost | The value of the next best alternative that must be forgone as a result of a decision |
Short-term Goal | A goal that will be attained in less than one year |
Trade-off | Giving up one thing for another |
Needs | Goods or services that are required for survival |
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 |
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