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Personal Finance Unit 3.01-3.04 Terms

AB
careerA lifetime journey of building and applying skills, knowledge, and experiences in paid employment positions
career clusterGrouping of occupations and industries based on the knowledge and skills required
formal continuing educationTraining for a specific set of new skills provided by experts in a particular field
human capitalThe skills, knowledge, and experiences possessed by an individual
IndustryGroup of establishments (businesses) that produce similar products or provide similar services
Informal continuing educationOccurs through social interactions, networking, life’s experiences, and reading
JobAn activity through which an individual can earn money
LifestyleYour habits, attitudes, tastes, moral standards and the amount of goods and services that you consume
OccupationGrouping of jobs that perform similar tasks
Standard of livingThe level of material comfort as measured by the goods, services, and luxuries you are able to purchase
Transferable skillsVersatile skills that are applied to personal and professional roles
RemediationSequences of increasingly advanced courses designed to bring academically underprepared students to the academic skill level expected when entering higher education
Backwards PlanningA strategy in which you start with the end goal and plan backwards to determine the steps needed to get to that end goal
Career PathwayA series of connected education and training programs that allow you to secure a job and then to advance within an industry or occupation
Debt-to-income ratioA standard tool that calculates whether a borrower will have difficulty meeting his or her loan repayment obligations
Job outlookThe demand for a particular job when you are qualified and ready to enter the field


Angell Beswetherick

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