Financial Decisions & Planning

John is a financial advisor. He is trying to help his client achieve specific objectives through financial planning. What is John helping his client to accomplish?

• financial goals

• financial planning

• financial well-being

• well-being

Managing money continuously through life in order to reach your financial goals

• well-being
• financial goals
• financial planning
• financial well-being

Goods or services that are required for survival

• want
• value
• need
• trade-off

The value of the next best alternative that must be foregone as a result of a decision

• needs
• opportunity cost
• trade-off
• value

Giving up one thing for another

• opportunity cost
• trade-off
• value
• want

A fundamental belief or practice about what is desirable, worthwhile, and important to an individual

• want
• value
• needs
• opportunity cost

The desire for goods and services that can increase our quality of life but are not absolutely necessary for our survival

• needs
• trade-off
• value
• want

Match the term to the correct definition:

Financial Goals

• Specific objectives that are accomplished through financial planning

• Managing money continuously through life in order to reach your financial goals

• Managing money in ways that build a sense of understanding, competence, and control

• Feeling good about one’s life

Match the term to the correct definition:

Financial Planning

• Specific objectives that are accomplished through financial planning

• Managing money continuously through life in order to reach your financial goals

• Managing money in ways that build a sense of understanding, competence, and control

• Feeling good about one’s life

Match the Term to the correct definition:

Opportunity Cost

• Goods or services that are required for survival

• The value of the next best alternative that must be forgone as a result of a decision

• Giving up one thing for another

• A fundamental belief or practice about what is desirable, worthwhile, and important to an individual

• The desire for goods and services that can increase our quality of life but are not absolutely necessary for our survival