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1.02 financial decisions
1.03 setting financial goals
2.01 intro to depository institution
2.02 basics of taxes
2.03 statement of financial decision
100
a fundamental belief or practice about what is desirable, worthwhile, and important to an individual
What is a value?
100
the end result of something a person intends to acquire, achieve, do, reach, or accomplish sometime in the near or distant future
What is a goal ?
100
businesses that makes money from receiving deposits and provides financial services.
What is a Depository Institution?
100
A sum of money demanded by a government to support the government itself as well as specific facilities or services
What are taxes?
100
assets- liabilities
What is the formula for net worth ?
200
goods or services that are required for survival
What is a need?
200
Specific Measurable Attainable Realistic Time Bound
Elements of a successful goal?
200
commercial bank, credit union
What are 2 types of depository institutes?
200
A person who pays a tax to national, state, county or municipal (city/town) governments
What is a taxpayer?
200
assets, liabilities, net worth
What is the 3 components of a statement of financial position
300
the desire for goods and services that can increase our quality of life but are not absolutely necessary for our survival
What is a want?
300
credit, financial advise, safe deposit box, transition and savings tools, special needs payment
what are some Services offered by depository institutions?
300
a group of people with common interests and concern for the common good
What is a community?
300
Everything a person owns with monetary value
What is an asset ?
400
need, wants and values
What contributes to the decisions you make?
400
helps create well being
how can setting goals benefit you
400
the price paid for using someone else’s money
What is an interest?
400
income tax, excise tax, payroll tax, property tax, sales tac
How do taxpayers pay taxes?
400
Can be quickly and easily converted into cash
What is a monetary asset ?
500
family, friends,teachers,culture ,media
What influences your values?
500
so you can manage your money and achieve goals better
Why is setting financial goals important
500
checking account, savings account
What are the 2 most common account?
500
tax on earned and unearned income
What is income tax?
500
Personal property that was purchased to create a lifestyle or improve your life (also known as use or lifestyle assets)
What is a tangible asset?