| A | B |
|---|
| financial considerations throughout the family life cycle | education, living expenses, buying a home, having children, insurance, taxes and medical expenses, vehicle purchase and maintenance |
| sources of income during teen years | allowance, gifts, part-time work, babysitting, seasonal work |
| individual priorities that change and affect financial decisions throughout the life cycle | education, entertainment, transportation, living expenses |
| family priorities that change and affect financial decisions throughout the life cycle | planning for children and education, living expenses, purchasing and maintaining a home, planning for retirement |
| cultural factors that affect financial decisions | traditions, religious beliefs, family roles |
| demographic factors that affect financial decisions | family changes, income gap between educated and non-educated workers |
| societal factors that affect financial decisions | technological changes, impact of media and entertainment industry |
| family crisis that has an economic impact on the family | loss of job, auto repairs, medical emergency, property damage, legal suits |
| strategies for coping with financial emergencies | 1) money set aside in a separate account for emergencies; 2) responsible financial management to avoid financial strain |
| types of insurance that contribute to successful risk management | life, health, home, and car |
| investment and retirement options | stocks, bonds, money markets, mutual funds, and real estate |
| Most common methods of saving for retirement | 401Ks and IRAs |
