Study sets matching "financial personal finance"

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Study sets matching "financial personal finance"

Personal Finance: Financial Planning
Personal Financial Planning
Step 1 of Personal Financial Planning
Step 2 of Personal Financial Planning
Step 3 of Personal Financial Planning
managing your money [spending, saving and investing] so that…
Determine your current financial situation.
Develop your financial goals.
Identify your options.
Personal Financial Planning
managing your money [spending, saving and investing] so that…
Step 1 of Personal Financial Planning
Determine your current financial situation.
10 terms
Personal Finance - Financial Planning
interest
financial security
financial responsibility
consumer
money paid or charged for the use of someone else's money
having enough money to meet your current and future needs
accepting the consequences of your earning, saving and spendi…
person or organization that uses a product or service
interest
money paid or charged for the use of someone else's money
financial security
having enough money to meet your current and future needs
44 terms
Personal Finance Financial Plan
Financial planning
5 step financial process
Short term goals
Intermediate term goals
Process of setting goals, developing a plan to acheive them,…
Set SMART goals, alalyze information, create a plan, implemen…
Within three months
Three months to a year
Financial planning
Process of setting goals, developing a plan to acheive them,…
5 step financial process
Set SMART goals, alalyze information, create a plan, implemen…
Personal Finance- Financial Institutions
gross pay
net pay
benefits
life insurance
total amount you earn before any deductions are subtracted
when all deductions are taken from your gross pay- the money…
forms of employee compensation in addition to pay
pays cash benefit to a designated person
gross pay
total amount you earn before any deductions are subtracted
net pay
when all deductions are taken from your gross pay- the money…
7 terms
Personal Finance Financial Ratios
Solvency ratio
Liquidity ratio
Savings ratio
Total net worth/Total assets
Total assets/Total liabilities
Cash surplus/Income after taxes
Solvency ratio
Total net worth/Total assets
Liquidity ratio
Total assets/Total liabilities
23 terms
Personal Finance Financial Vocabulary
Financial Plan
Benefits of Financial Planning
Step 1
Income
Arranging to spend, save, and invest money to live comfortabl…
To have more money and financial security... To know how to use…
Determine your current financial situation
Job earnings, allowance, and interest on bank accounts
Financial Plan
Arranging to spend, save, and invest money to live comfortabl…
Benefits of Financial Planning
To have more money and financial security... To know how to use…
35 terms
Personal Finance: Financial Planning
Personal Financial Planning
Step 1 of Personal Financial Planning
Step 2 of Personal Financial Planning
Step 3 of Personal Financial Planning
managing your money [spending, saving and investing] so that…
Determine your current financial situation.
Develop your financial goals.
Identify your options.
Personal Financial Planning
managing your money [spending, saving and investing] so that…
Step 1 of Personal Financial Planning
Determine your current financial situation.
13 terms
Personal Finance (financial planning)
FINANCIAL PLANNING
NEEDS
WANTS
VALUES
A process of setting goals, developing a plan to achieve them
Very basic things we need to survive
Things that make life more interesting and fun
Beliefs and practices in your life that are important to you
FINANCIAL PLANNING
A process of setting goals, developing a plan to achieve them
NEEDS
Very basic things we need to survive
35 terms
Personal Finance: Financial Planning
Personal Financial Planning
Step 1 of Personal Financial Planning
Step 2 of Personal Financial Planning
Step 3 of Personal Financial Planning
managing your money [spending, saving and investing] so that…
Determine your current financial situation.
Develop your financial goals.
Identify your options.
Personal Financial Planning
managing your money [spending, saving and investing] so that…
Step 1 of Personal Financial Planning
Determine your current financial situation.
27 terms
Personal Finance Financial Planning
Liquidity
Financial Planning
Resume
Cover letter
the ability to easily convert your financial assets into cash…
arranging to spend, save, & invest money to live well, have s…
a one or two pages summary of your education, training, exper…
a letter stating the position you ate applying for & why you…
Liquidity
the ability to easily convert your financial assets into cash…
Financial Planning
arranging to spend, save, & invest money to live well, have s…
13 terms
Personal Finance - Financial Services
automatic deposit
payee
electronic funds transfer
bank routing number
your paycheck is automatically deposited into your account
the person you wrote the check to
an electronic message tells a computer to move money from one…
nine-digit number that tells the payee's bank which bank to g…
automatic deposit
your paycheck is automatically deposited into your account
payee
the person you wrote the check to
Personal Finance- Financial Security
3-6
Mutual Fund
Financial Fund
Investing
Number of months
A large, professionally managed group of investments
A program for spending, savings and investing
The use of savings to earn a financial return
3-6
Number of months
Mutual Fund
A large, professionally managed group of investments
10 terms
Personal Financial Statements (finance)
define personal financial statement
what are the 3 steps to creating a bal…
what are the 4 asset categories (list…
what are the 3 steps to creating a cas…
document that provides ANY info about your current financial…
1.calculate assets... 2.calculate liabilities... 3.calculate net wo…
1.liquid assets: cash or money in the bank.... 2.real estate: la…
1. calculate income... 2.calculate expenses... 3.calculate net cash…
define personal financial statement
document that provides ANY info about your current financial…
what are the 3 steps to creating a bal…
1.calculate assets... 2.calculate liabilities... 3.calculate net wo…
21 terms
Personal Finance; Financial Institutions 1
automated teller machine (ATM)
point-of-sale transaction
bank
check
Computer terminals that people can use to withdraw cash from…
You use a debit card to purchase as item or a service at a re…
A for-profit institution that offers a full range of financia…
A written order specifying the amount of money to be paid and…
automated teller machine (ATM)
Computer terminals that people can use to withdraw cash from…
point-of-sale transaction
You use a debit card to purchase as item or a service at a re…
14 terms
Personal Finance; Financial Institutions 2
Checking account
Savings account
Credit Union
Commercial Bank
An account that allows easy and quick access to deposited fun…
An account for money not intended to be used for current cons…
Depository institution that offers many banking services that…
For-profit depository businesses that offer financial service…
Checking account
An account that allows easy and quick access to deposited fun…
Savings account
An account for money not intended to be used for current cons…
35 terms
Personal Finance: Financial Planning - Week 3
Personal Financial Planning
Step 1 of Personal Financial Planning
Step 2 of Personal Financial Planning
Step 3 of Personal Financial Planning
managing your money [spending, saving and investing] so that…
Determine your current financial situation.
Develop your financial goals.
Identify your options.
Personal Financial Planning
managing your money [spending, saving and investing] so that…
Step 1 of Personal Financial Planning
Determine your current financial situation.
17 terms
Personal Finance Financial Institutions Vocabulary
Credit Union
Financial Institution
Mobile Banking
ATM
Depository institutions that offer many banking services and…
Business that provide financial services for its clients or m…
Apps that many depository institutions have developed that al…
Machine that allows individuals to complete certain transacti…
Credit Union
Depository institutions that offer many banking services and…
Financial Institution
Business that provide financial services for its clients or m…
Personal Finance - Financial System
Outstanding Checks
Reconciliation Form / Online Banking
Bank Statement
Payee, Drawer, Drawee
Checks that have not been deducted from the bank-statement
A statement showing how the checkbook balance and the bank st…
A report sent by the bank to a depositor showing the status o…
Who are the three parties involved with a check?
Outstanding Checks
Checks that have not been deducted from the bank-statement
Reconciliation Form / Online Banking
A statement showing how the checkbook balance and the bank st…
Personal Finance - Setting Financial Goals
goal
trade-off
opportunity cost
long-term goal
something a person intends to acquire, achieve, or accomplish…
giving up one thing for another
the value of the next best alternative that must be forgone a…
goal attained in > 1 year
goal
something a person intends to acquire, achieve, or accomplish…
trade-off
giving up one thing for another
14 terms
Personal Finances - Financial Planning
Guidelines for setting goals
Types of financial goals
Types of needs/goods
Influences on financial planning
realistic, specific, clear time frame, (determine action you…
short term - a year or less (buy car)... intermediate - 2 to 5…
consumable goods - things you need often and consume (groceri…
life situations - educational and work experience ... personal…
Guidelines for setting goals
realistic, specific, clear time frame, (determine action you…
Types of financial goals
short term - a year or less (buy car)... intermediate - 2 to 5…
11 terms
Personal Finance -- 2.03 -- Statement of Financial Position
asset
expense
income
investment asset
items of monetary value a person or household owns
money spent
money received
financial assets purchased with the hope that they will gener…
asset
items of monetary value a person or household owns
expense
money spent
Financial Literacy: Personal Finance Basics
Charitable Donation
Fixed Income
Variable Income
Fixed Expense
generous gift of money or time to a person or organization
Same amount of money on a set interval basis, such as monthly…
amount of money earned is not the same each pay period
a bill, such as monthly rent, which is the same each month
Charitable Donation
generous gift of money or time to a person or organization
Fixed Income
Same amount of money on a set interval basis, such as monthly…
Financial Literacy: Personal Finance Basics
charitable donation
fixed income
variable income
fixed expense
generous gift of money or time to a person or organization
same amount of money earned on a set interval basis, such as…
amount of money earned which is not the same each pay period
expense which is the same each month
charitable donation
generous gift of money or time to a person or organization
fixed income
same amount of money earned on a set interval basis, such as…
Financial Literacy: Personal Finance Basics
Charitable Donation
Fixed Income
Variable Income
Fixed Expense
generous gift of money or times to a person or organization
same amount of money earned on a set interval basis, such as…
amount of money earned is not the same each pay period
a bill, such as monthly rent, which is the same each month
Charitable Donation
generous gift of money or times to a person or organization
Fixed Income
same amount of money earned on a set interval basis, such as…
PERSONAL FINANCE- statement of financial position
Networth
Assests
Liabilities
Liabilities
assets - liabilities = networth / the measure of financial we…
things that are of monetary value/ the things we own that are…
money owed/ debt
like debt or money owed
Networth
assets - liabilities = networth / the measure of financial we…
Assests
things that are of monetary value/ the things we own that are…
30 terms
Personal Finance- Financial Goals and Careers
Establishing a Financial Plan
Emergency Fund
Attitudes and Values
Opportunity Cost
Set a goal, then develop a plan to reach the goal.
Established to handle unexpected expenses and preserve financ…
Personal beliefs that will impact and shape the financial goa…
Alternatives in the decision making process that are evaluate…
Establishing a Financial Plan
Set a goal, then develop a plan to reach the goal.
Emergency Fund
Established to handle unexpected expenses and preserve financ…
27 terms
Personal Finance - Budget and Financial Records
Disposable Income
Financial Plan
Budget
Earnings
Money you have left to spend or save after taxes have been paid
A set of goals for spending, saving, and investing your income
A spending and savings plan based on your expected income and…
Spending + Savings = Earnings
Disposable Income
Money you have left to spend or save after taxes have been paid
Financial Plan
A set of goals for spending, saving, and investing your income
25 terms
Personal Finance--Ch 1 & 2 Financial Planning
asset
liability
income
interest
What you own.
What you owe.
Money coming in from ages, allowance, and other sources.
Can be compared to "rent" on money--what it costs you to borr…
asset
What you own.
liability
What you owe.
Personal Finance - Chapter 1 Personal Financial Planning
Which goal is an example of a short-te…
Which is not a strategy to achieve you…
Look at the Future and Present Value T…
Which is not a benefit of financial pl…
Saving for a television.
Always go for the highest risk/highest reward investments
0.592
You will make more money.
Which goal is an example of a short-te…
Saving for a television.
Which is not a strategy to achieve you…
Always go for the highest risk/highest reward investments
12 terms
Personal Finance-Basic Financial Vocabulary
Inflation
Asset
Liabiltiy
Net Worth
an increase in the amount of money in a circulation that caus…
something of value that you own
a debt that you owe
assets-liabilities
Inflation
an increase in the amount of money in a circulation that caus…
Asset
something of value that you own
28 terms
financial literacy: Personal finance basics
charitable donation
fixed income
variable income
fixed expense
generous gift of money or time to a person or oraganization
same amount of money earned on a set interval basis, such as…
amount of money earned is not the same each pay period
a bill, such as monthly rent, which is the same each month
charitable donation
generous gift of money or time to a person or oraganization
fixed income
same amount of money earned on a set interval basis, such as…
28 terms
Financial Literacy: Personal Finance Basics
Charitable Donation
Fixed Income
Variable Income
Fixed Expense
generous gift of money or time to a person or organization
same amount of money earned on a set interval basis, such as…
amount of money earned is not the same each pay period
a bill, such as monthly rent, which is the same each month
Charitable Donation
generous gift of money or time to a person or organization
Fixed Income
same amount of money earned on a set interval basis, such as…
Financial Literacy: Personal Finance Basics
Charitable Donation
Fixed Income
Variable Income
Fixed Expense
generous gift of money or time to a person or organization
same amount of money earned on a set interval basis, such as…
amount of money earned is not the same each pay period
a bill, such as monthly rent, which is the same each month
Charitable Donation
generous gift of money or time to a person or organization
Fixed Income
same amount of money earned on a set interval basis, such as…
28 terms
Financial Literacy: Personal Finance Basics
Charitable donation
fixed income
variable income
fixed expense
generous gift of money or time to a person or organization
same amount of money earned on a set interval basis, such as…
amount of money earned is not the same each pay period
a bill, such as monthly rent, which is the same each month
Charitable donation
generous gift of money or time to a person or organization
fixed income
same amount of money earned on a set interval basis, such as…
28 terms
Financial Literacy: Personal Finance Basics
Charitable Donation
Fixed Income
Variable Income
Fixed Expense
generous gift of money or time to a person or organization
same amount of money earned on a set interval basis, such as…
amount of money earned is not the same each pay period
a bill, such as a monthly rent, which is the same each month
Charitable Donation
generous gift of money or time to a person or organization
Fixed Income
same amount of money earned on a set interval basis, such as…
Financial Literacy Personal Finance Basics
Charitable Donation
Fixed Income
Variable Income
Fixed Expense
generous gift of money or time to a person or organization
same amount of money earned on a set interval basis, such as…
amount of money earned is not the same each pay period
a bill, such as monthly rent, which is the same each month
Charitable Donation
generous gift of money or time to a person or organization
Fixed Income
same amount of money earned on a set interval basis, such as…
Financial Literacy: Personal Finance Basics
Charitable Donation
Fixed Income
Variable Income
Fixed Expense
generous gift of money or time to a person or organization
same amount of money earned on a set interval basis, such as…
amount of money earned is not the same each pay period
a bill, such as monthly rent, which is the same each month
Charitable Donation
generous gift of money or time to a person or organization
Fixed Income
same amount of money earned on a set interval basis, such as…
6 terms
personal finance (everyday financial tools)
checking account/ debit card
debit card
savings account
store cards
(cash on demand) can get you money anywhere anytime
plastic check takes money right out of your bank
(kind of easy to get)have too go to the bank / Atm and get mo…
(aka credit card) borrowed money from the store ... EX: target /…
checking account/ debit card
(cash on demand) can get you money anywhere anytime
debit card
plastic check takes money right out of your bank
Financial Literacy: Personal Finance Basics
Charitable Donation
Fixed Income
Variable Income
Fixed Expense
generous gift of money or time to a person or organization
same amount of money earned on a set interval basis, such as…
amount of money earned is not the same each pay period
a bill, such as monthly rent, which is the same each month
Charitable Donation
generous gift of money or time to a person or organization
Fixed Income
same amount of money earned on a set interval basis, such as…
Financial Literacy: Personal Finance Basics
Charitable Donation
Fixed Income
Variable Income
Fixed Expense
generous gift of money or time to a person or organization
same amount of money earned on a set interval basis, such as…
amount of money earned is not the same each pay period
a bill, such as monthly rent, which is the same each month
Charitable Donation
generous gift of money or time to a person or organization
Fixed Income
same amount of money earned on a set interval basis, such as…
13 terms
Financial Literacy: Personal Finance Basics
charitable donation
discretionary
fixed expenses
time - home pay
gift of time and money to a person or organization
there is no specific purpose tied to, for instance, money you…
a bill, such as the monthly rent, will be the same amount eac…
also called net pay; the amount of your check that you actual…
charitable donation
gift of time and money to a person or organization
discretionary
there is no specific purpose tied to, for instance, money you…
Personal Finance Banking and Financial Institutions
Federal Reserve
Certified Check
Bank Draft
Checking Accounts
Central Bank of the United States
A personal check that the bank guarantees or certifies to be…
A check drawn by a bank on its own funds in another bank
Write checks to make payments, aka demand deposits
Federal Reserve
Central Bank of the United States
Certified Check
A personal check that the bank guarantees or certifies to be…
Personal Finance: Statement of Financial Position
Statement of Financial Position
Asset
Monetary Assets
Tangible Assets
A financial statement that describes an individual or family'…
Everything a person owns with monetary value
Can be quickly and easily converted into cash
Personal property that was purchased to create a lifestyle or…
Statement of Financial Position
A financial statement that describes an individual or family'…
Asset
Everything a person owns with monetary value
Personal Finance- Financial Institutions and Services
Commercial Bank
Federal Deposit Insurance Corporation…
Savings and Loans Association (S&L)
Credit Union
a bank owned by stockholders and organized to receive, transf…
a U.S. government that protects bank customers by insuring de…
a for profit financial institution that receives and pays div…
a nonprofit financial cooperative owned by and operated for t…
Commercial Bank
a bank owned by stockholders and organized to receive, transf…
Federal Deposit Insurance Corporation…
a U.S. government that protects bank customers by insuring de…
18 terms
Personal Finance: Banking and Financial Institutions
Federal Reserve
Board of Governors
Federal Open Market Committee
Certified Check
Central bank of the United States
-Federal government agency ... - 7 members... -Appointed by the pre…
Composed of: the board of Governors and 5-12 reserve bank pre…
A personal check that the bank guarantees or certifies to be…
Federal Reserve
Central bank of the United States
Board of Governors
-Federal government agency ... - 7 members... -Appointed by the pre…
Personal Finance Chapter 1:Personal financial Planning
Personal financial planning
goals
Values
Needs
Spending, saving, and investing your money so you can enjoy t…
things you want to accomplish
Beliefs and principles that you deem important
requirements for survival, such as food, clothing, and shelter
Personal financial planning
Spending, saving, and investing your money so you can enjoy t…
goals
things you want to accomplish
14 terms
Personal Finance Chapter 1 - Personal Financial Planning
benefits of financial planning
Name the 6 steps to Financial Planning:
Liquidity
What are the three time frames for fin…
1. you have more money and financial security ... 2. you have le…
1. Determine your current financial situation ... 2. Develop you…
the ability to convert financial assets into money without lo…
short term... intermediate ... long term
benefits of financial planning
1. you have more money and financial security ... 2. you have le…
Name the 6 steps to Financial Planning:
1. Determine your current financial situation ... 2. Develop you…
15 terms
Personal Finance - Financial Institutions and Checking
asset
liability
Three main benefits of a checking acco…
3 Main financial institutions at which…
a resource with an economic value that somebody OWNS
something that someone is responsible for and OWES
make deposits, write checks and withdrawals, and keep a recor…
Credit Union, Commercial Bank, and Savings and Loans Associat…
asset
a resource with an economic value that somebody OWNS
liability
something that someone is responsible for and OWES
Finance Chapter 1 Personal Financial Planning
Personal Financial Planning
Inflation Risk
Interest Rate Risk
Income Risk
arranging to spend, save, and invest money to live comfortabl…
Rising prices cause lower buying power. Buying an item later…
The chance that interest rates may change (upward) while the…
income may fluctuate (health, family, etc)
Personal Financial Planning
arranging to spend, save, and invest money to live comfortabl…
Inflation Risk
Rising prices cause lower buying power. Buying an item later…
135 terms
Banking, Personal Finance & Financial centres
unit trust/mutual fund
instalment
subsidy
customers' instructions
fundusz powierniczy
rata
dotacja
dyspozycje klienta
unit trust/mutual fund
fundusz powierniczy
instalment
rata
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