Term
| a series of equal regular deposits |
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| a task that a person or machine performs for you |
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a person who purchases and uses goods or services |
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the price that is paid for the use of another's money |
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Term
ability to easily convert financial resources into cash without loss of value |
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| a physical item that is produced and can be weighed or measured |
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Term
| beliefs and principles that a person considers important |
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Term
an increase in an amount of money as a result of interest or dividends |
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Term
| to make an approximate calculation |
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Definition
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| general rise in the level of prices for goods and services |
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| the amount of goods and services people are willing to buy |
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Definition
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Term
| The things one wants to accomplish |
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Definition
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Term
| the amount that an original deposit will be worth at a specific period of time |
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Definition
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Term
| the amount of money deposited now to attain a desired amount in the future |
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Definition
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Term
| spending, saving, and investing money to have financial security |
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Definition
| Personal financial planning |
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Term
| the amount of money deposited on which interest is paid |
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Definition
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Term
| study of the decisions that go into making, distributing, and using goods and services |
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Definition
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Term
| what is step 1 of 5 in financial planning? |
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Definition
| deterine your current financial situation |
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Term
| what is step 2 of 5 in financial planning? |
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Definition
| develop your financial goals |
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Term
| what is step 3 of 5 in financial planning? |
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Definition
| identify alternative courses of actions |
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Term
| what is step 4 of 5 in financial planning? |
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Definition
| evaluate your alternatives |
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Term
| what is step 5 of 5 in financial planning? |
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Definition
| create and use your financial plan of action |
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Term
| what is a short term goal? |
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Definition
| take one year or less to achieve |
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Term
| what is a intermediate goal? |
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Definition
| take two to five years to achieve |
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Term
| what is a long term goal? |
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Definition
| take more than five years to achieve |
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Term
| what is a SMART goal and what does the acronym stand for? |
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Definition
Specific
Measurable
Attainable
Realistic
Timely |
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Term
| how do you determne if an item given is a good or a service? |
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Definition
a good is a product you can use such as a shampoo.
a service is a task a person or machine perform for you such as a lawyer being a service. |
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Term
| what is the difference between an economic factor and an economic condition? |
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Definition
economic factors are- market forces, financial institutions, global influences,
economic conditions are- consumber prices, consumer spending, interest rates, |
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Term
what are eight strategies to achieve your financial goals?
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Definition
1. obtain
2. plan
3. spend wisely
4. save
5. borrow wisely
6. invest
7. manage risk
8. plan for retirement |
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