Personal Finance Standard 1 - Understanding financial well-being

Create a step by step plan outlining exactly how the goal can be reached. Saving $150.00 and not telling how you will get it.

• Financial goal

• Specific goal

  Specific goal

• Attainable goal

Your feelings, happy sad, scared, stressed.

• Physical well being

• Emotional Well being

• Intellectual well-being

Specific objectives that are accomplished through financial planning

• Financial goal

• Financial planning

• Financial well-being

Something a person intends to aqcuire, achieve, or accomplish in the future. Writing down your goals will help you accomplish them.

• Long - term goal

• Short - term goal

• Goal

Sense of belonging, inclusion, supported by others, connecting with others.

• Well being
• Emotional Well-Being
• Social Well-Being

Desire for goods and services that can increase our quality of life but are not absolutley necessary for our survival.

• Needs

• Trade - off

• Wants

Managing money continuously through life in order to reach your financial goal. A never ending process, on going process.

• Money management

• Financial Planning

• Financial Well-Being

The value of the next best alternative that must be forgone as a result of a decision. Finding two cars deciding which one to buy.

• Needs

• Opportunity Cost

• Trade-Off

Specifically state when the goal will be reached.

• Realistic Goal

• Measurable Goal

• Time-Bound Goal

Managing Money in ways that builds a sence of understanding, competence, and control.

• Financial Planning

• Realistic

• Financial Well Being