| A | B |
|---|
| Decision | Choice that is made about things that affect a person's life |
| Routine Decision | Made on a daily basis and doesn't require a lot of time to think through |
| Major Decision | Results in long-term effects on a person's life. They should be made very carefully and with a lot of thought. |
| Financial Decision | Financial Decision Impacts an individual's or family's well-being |
| Well-Being | The state of being happy, healthy and prosperous |
| Decision-Making Process | Guides individuals to think through all components of making a good decision for non-routine choices |
| Values | Fundamental beliefs or practices about what is desirable, worthwhile and important |
| Trade-Off | Giving up one thing for another |
| Opportunity Cost | The value of the next best alternative that must be forgone as a result of a decision |
