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personal financial planning

spending, saving, and investing you money so you can have the kind of life you want as well as financial security.


things you want to accomplish


principles considered desirable

opportunity costs

the most desirable alternative given up as the result of a decision


being in cash or easily convertible to cash


a company or agency that performs a public service


an item that is economically useful or satisfies an economic want


the branch of social science that deals with the production and distribution and consumption of goods and services and their management


frugality in the expenditure of money or resources


an amount of something available for use

federal reserve system

the nation's central banking system


the ability and desire to purchase goods and services


a general and progressive increase in prices


a person who uses goods or services


a fixed charge for borrowing money

time value of money

Money's potential to grow in value over time. The relationship between time, money, a rate of return, and earnings growth.


the major part to a financial transaction at a stock exchange

future value

The amount of money in the future that an amount of money today will yield, given prevailing interest rates


income from capital investment paid in a series of regular payments

present value

The amount of money today that would be needed, using prevailing interest rates, to produce a given future amount of money

down payment

a partial payment made at the time of purchase


a jointly owned commercial enterprise (usually organized by farmers or consumers) that produces and distributes goods and services and is run for the benefit of its owners

impulse buying

making an unplanned or quick purchase without giving it much thought

open dating

a system of putting dates on perishable and semi-perishable foods to help consumers obtain products that are fresh and wholesome

unit pricing

the price of an item per ounce, pound, or other accepted unit of measure


a rectangular groove made to hold two pieces together


a written assurance that some product or service will be provided or will meet certain specifications

service contract

a contract for maintenance services


something intended to deceive


the act of treating with medicines or remedies


the act of deciding as an arbiter

small claims court

civil court that people may use to settle disputes involving small amounts of money

class-action suit

a case brought by someone to help him or her and all others who are similarly situated

legal aid society

One of a network of community law offices that provides free or low-cost legal assistance.

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