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Personal Finance Chapter 1 - Vocabulary

AB
consequencesthe results of your decisions
decisionmaking up your mind about something, or choosing one option over another
formulaa rule or method of doing something
impulsiveinclined to act without thinking--you might make a snap decision without considering the results.
probabilitythe chance that something will happen--to measure how likely it is that a particular outcome will occur
probabilitythe chance that something will happen--to measue how likely it is that aparticular outcome will occur
processis a series of steps that leads to a conclusion
goalis something you are trying to achieve
long-term goalswhen you wan to achieve something quickly
short-term goalsis something you want to achieve in the more distant further
problemor challenge is a difficulty that you must resolve before you can make progress.
critical thinkingthe ability to be hones, rational, and open-minded about your options without letting emotions get in the way of choosing the best course of action.
objectivefair, without emotion, bias, or prejudice
subjectiveaffected by existing opinions, feelings, and beliefs
active listeningan important part of effective communication; when you are an active listener, you pay attention to the speaker and make sure you hear and understand the message
contextis the current situation or environment; when communicating, it includes nonverbal communicatio, such as your tone of voice, expressions, and body language
effective communicationinteractions in which the receiver interprets the message the way the sender intended
ineffective communicationa communication exchange in which the receiver misinterprets the message
nonverbal communicationexchanging a messageswithout using words
verbal communicationthe exchange of messages by speaking or writing


Teacher
Glorious Church of God in Christ
Roanoke , VA

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