Save $25 by the 10th of next month to buy mom a birthday gift.
What is a short-term goal?
200
Write down your goals.
Tell other people about your goals.
Take only the amount of money you want to spend.
Review your plan regularly.
What are ways to help up stick to your plan.
200
a trade-off, give up one thing to have another
What is opportunity cost?
200
a process of setting goals, developing a plan to achieve them, and putting the plan into action.
What is financial planning.
200
Save $10 a week for the next six months to buy a dress for prom.
What is an intermediate-term goal?
300
1. Identify your goal.
2. Establish your criteria.
3. Examine your options.
4. Weigh the pros and cons.
5. Make your decision.
6. Evaluate your results.
What are the 6 stages of decision making?
300
measures the money you receive and the money you spend
What is cash flow?
300
The smaller decisions you have to make in order to make a major decision.
What are satellite decisions?
300
Save $2000 from a summer job for the next two years for a down payment on a car.
What is a long-term goal?
400
Specific, Measurable, Attainable, Realistic, Time bound.
What is a SMART Goal?
400
the beliefs and practices in your life that are very important to you
What are values?
400
the things that make life more interesting and fun, but you could live without them if you had to
What are wants?
400
Save $100 in the next four months to buy a new pair of shoes.
What is an intermediate-term goal?
500
1. Set SMART Goals
2. Analyze Information
3. Create A Plan
4. Implement The Plan
5. Monitor And Modify The Plan
What are the 5 Steps in Financial Planning
500
willingness to give up something you want now to get something even better in the future
What is delayed gratification?
500
goal that last longer than 1 year.
What is a long-term goal?
500
Save $50 to go out to the movies and supper in six weeks.