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Terms in this set (17)
The study of personal and family resources considered important in achieving financial success; it involves how people spend, save, protect, and invest their financial resources.
Knowledge of facts, concepts, principles, and technological tools that are fundamental to being smart about money.
A state of being wherein a person can fully meet current and ongoing financial obligations, can feel secure in their financial future, and make choices that allow them to enjoy life.
Means that you are accountable for your future financial well-being and that you strive to make wise personal financial decisions.
The achievement of financial aspirations that are desired, planned, or attempted, as defined by the person who seeks it.
The comfortable feeling that your financial resources will be adequate to fulfill any needs you have as well as most of your wants.
The experience you have when you are satisfied with your money matters, which is in part a result of practicing good financial behaviors.
Income not spent on current consumption.
Assets purchased with the goal of providing additional future income from the asset itself.
standard of living
Material well-being and peace of mind that individuals or groups earnestly desire and seek to attain, to maintain if attained, to preserve if threatened, and to regain if lost.
level of living
Refers to the level of wealth, comfort, material goods and necessities one is currently living.
That which we believe may have been valid at one time, if it ever was true in the first place.
The valuation of an asset projected to the end of a particular time period in the future.
A type of employee benefit plan where employees are offered a choice between cash (which is taxable) and at least one other nontaxable benefit, which are qualified as nontaxable or tax-sheltered benefits.
flexible spending account (FSA)
An employer-sponsored account that allows employee-paid expenses for medical or dependent care to be paid with an employee's pretax dollars rather than after-tax income.
Money income that has not been taxed by the government.
tax-sheltered retirement plan
Employer-sponsored, defined-contribution retirement plans including 401(k) plans and similar 403(b) and 457 plans.
Sets found in the same folder
Chapter 07 - Credit Cards and Consumer Loans
Chapter 08 - Vehicle and Other Major Purchases
Chapter 09 - Obtaining Affordable Housing
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