Evaluating results, identifying the problem, and selecting the best course of action
What is the Decision Making Process
100
Wages, Salaries, Investments, and Gifts are all sources of
Income
100
A tool used to record and track projected and actual income and expenses over a period of time
Spending Plan
100
The portion of current income not spent on consumption
Savings
100
A deliberate deception, designed to secure unfair or unlawful gain.
Fraud
200
What is important to your family and others in you culture
Values
200
Paid vacations, sick days, and health insurance are often called
Employee Benefits
200
Common financial service used by many consumers where funds are easily accessed
Checking Account
200
The purchase of assets with the goal of increasing future income
Investments
200
Protection against large-scale financial loss
Insurance
300
Provide pressure for positive or negative behaviours
Peers
300
The total amount a worker is paid before any required or voluntary deductions are made
Gross Income
300
A plastic card electronically connected to a bank account
Debit Card
300
The ability of an investment to be converted into cash quickly without loss of value
Liquidity
300
The amount of the loss you must pay out of your own pocket before the insurance company begins to reimburse you
Deductible
400
Includes investing, budgeting, and managing all components of a persons money
Financial Planning
400
Required contributions to state revenue, levied by the government on personal income and business profits or added to the cost of some goods and services.
Taxes
400
Earnings automatically deposited into bank accounts, saving time, effort, and money.
Direct Deposit
400
An investment that represents ownership in a company or corporation
Stocks
400
Pays the medical bills in case you or your family members become sick or injured
Health Insurance
500
An economic principle stating that because of limited resources, an economic system cannot possibly produce all the goods and services that people want
Scarcity
500
A withholding allowance certificate form to establish your withholding allowances for Federal income taxes
W4
500
A snapshot of a person's financial standing at a particular point in time
Credit Score
500
Means the market is doing well because investors are optimistic about the economy and are purchasing stocks
Bull Market
500
Interest which is calculated not only on the initial principal, but also the accumulated interest of prior periods.