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Personal Finance 1.02 Key Terms

AB
goalSomething a person intends to acquire, achieve, reach, or accomplish
SpecificExact, clearly defined or explained
MeasurableA figure that can be objectively assessed
AttainableAble to be reached
RealisticIn keeping with reality, likely to happen
AlternativeAn option or choice
time-boundContaining a date when a goal will be reached
ProA reason in favor of an option; a potential benefit
ConA reason in opposition to an option; a potential limitation or weakness
ImpulseA whim or sudden desire to do something; acting without thinking
HabitA learned behavior that is repeated over and over
CulturalRelated to the traditions, beliefs, roles, and communication styles of a group
SocietalRelated to all people, collectively
EconomicRelated to the state of the economy, the financial balance of a population
TechnologyProducts, resources, and systems used for specific purposes
MediaPrint, sound, and image channels through which information is conveyed
LegalRelated to the law
MoralRelated to a sense of right and wrong
NeedSomething one must have in order to live
WantSomething one desires to improve quality of living that is not required to live
ValueA fundamental belief about what is desirable and worthwhile
StandardA measure of quality or excellence
PriorityThe relative importance a person places on a value, goal, or alternative
DemographicStatistical data about a population


VA

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