Money & Values/fin exchange
Fundamental beliefs that shape and influence financial behaviors and decisions.
What is Financial Values:
A person who enjoys using their money to purchase products and experiences without much hesitation, and with less concern for saving.
What is A Spender
An asset that maintains its value over time without depreciating significantly.
What is Store of Value
A social science that studies how psychological and cognitive factors influence economic decisions, challenging the assumption of the rational choice theory in traditional economics.
What is Behavioral Economics
A medium of exchange that facilitates the buying and selling of goods and services in an economy.
What is Money
Fundamental beliefs that shape and influence behaviors and decisions.
What is Values:
Someone who prioritizes accumulating money, often seeking security and stability through regular saving habits.
What is Saver
A medium of exchange that facilitates the buying and selling of goods and services in an economy.
What is money
A theory that suggests individuals make decisions through rational calculation to maximize their self-interest, based on preferences, constraints, and available information.
What is Rational Choice Theory
The illegal imitation or reproduction of currency, documents, goods, or other items with the intent to deceive or defraud by passing them off as genuine.
Counterfeit
A network for processing electronic financial transactions in batches, enabling efficient and cost-effective direct deposits and payments.
What is ACH (Automated Clearing House)
Someone that focuses on using their money to make more money, often by allocating funds into stocks, bonds, real estate, or other investment types.
What is Investor:
Where goods and services are exchanged directly for other goods and services without a medium of exchange, like money being used.
What is Barter System
The management of an individual's financial decisions, including budgeting, saving, spending, and planning for the future.
What is Personal Finance:
An aspect of money, whereby a government officially sanctions it for the payment of debts, taxes, and other financial obligations.
What is Legal Tender
An unchangeable, decentralized, digital ledger distributed across a network of computers.
What is Blockchain
Someone that takes a moderate approach to finances, carefully managing their spending, saving, and investing, to maintain financial health and achieve long-term goals.
What is Balancer
An instrument that represents a standard and agreed upon value, used to purchase goods and services and to pay debts.
What is Medium of Exchange:
A cognitive bias where individuals mimic the actions, opinions, and decisions of a group, often overriding their own judgments and preferences.
What is Herd Mentality
A promissory note and legal tender, issued and backed by the government, payable on demand to the holder.
Banknote:
The study or use of techniques to scramble or hide data, and validate messages and digital signatures, in order to secure digital information.
What is Cryptography:
Someone that tends to shy away from dealing with financial matters, either due to lack of interest, understanding, or fear of confronting their financial reality.
What is Avoider
The official form of money in active circulation within a country, including both physical forms like paper bills and coins, as well as the digital or accounting representation of it within the banking system.
What is Currency:
A cognitive bias where further investments are justified on the basis of previously incurred, unrecoverable costs.
What is Sunk Cost Fallacy:
A monetary system where a country's basic unit of currency equals a certain quantity of gold.
What is The Gold Standard