Term
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Definition
| AN ARRANGEMENT TO RECEIVE CASH, GOODS OR SERVICES NOW AND PARY FOR THEM IN THE FUTURE |
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Term
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Definition
| THE USE OF CREDIT FOR PERSONAL NEEDS (EXEPT A HOME MORTGATE) BY INDIVIDUALS AND FAMILIES, IN CONTRAST TO CREDIT USED FOR BUSINESS PURPOSE |
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Term
| PERSONAL FINANCIAL PLANNING |
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Definition
| The Process of managing your money to achieve personal economic satisfaction. |
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Term
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Definition
| A formalized report that summaraizes your current funancial situation, analyzes your financail needs, and recommends future financial activities |
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Term
| ADVANTAGES OF PERSONAL FINANCIAL PLANNING |
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Definition
1. Increased effectiveness
2. Increased control
3. improved personal relationships
4. A sense of freedom from financial worries |
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