Attitudes towards Money
Financial Planning Process
Balance Sheet
Misc.
Misc.
100
These people can accumulate significant wealth even on a modest income
What are Savers
100
Implement Financial Plans and Strategies
What is the 3rd step in the financial planning process
100
Debts such as credit card charges, loans, and mortgages
What are Liabilities
100
These involve payment amounts that change from one period to the next
What are Variable Expenses
100
This estimates how long it will take to double a sum at a given rate
What is the Rule of 72
200
These people enjoy making other people happy and ignore their own needs
What are Givers
200
Develop financial plans and strategies to achieve goals
What is the 2nd step in the financial planning process
200
These are in the form of cash or can quickly be converted to cash
What are Liquid Assets
200
An excess amount of expenses over income
What is a Cash Deficit
200
This measures the ability to pay current debts
What is the Liquidity Ratio
300
This influences how we spend, save, and invest
What is our Attitude towards Money
300
The results an individual wants to attain, such as buying a home or achieving financial independence
What are Financial Goals
300
The actual ownership interest in a specific asset or group of assets.
What is Equity
300
When the levels of employment and production are low and economic growth is at a virtual standstill or even negative
What is a Depression
300
This includes income derived from real estate, limited partnerships, and other forms or tax shelters
What is Passive Income
400
These people see money as a tool
What are Builders
400
Periodically develop and implement budgets to monitor and control progress toward goals
What is the 4th step in the financial planning process
400
This describes a person's financial position at a given point in time
What is a Balance Sheet
400
The goals should indicate wants and desires for a period covering from about 2 years from now to 5 years from now
What are Intermediate Goals
400
The tax rate you pay on the next dollar of taxable income
What is the Marginal Tax Rate
500
These people have a hard time saving money
What are Spenders
500
Redefine goals and revise plans and strategies as personal circumstances change
What is the 6th step in the financial planning process
500
Assets acquired in order to earn a return on the money rather than provide a service
What are Investments
500
The age range when people commonly form families
What is early (to mid-) twenties to (early to) mid thirties
500
A fixed sum of money that occurs annually
What is an Annuity
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