Informed Financial Decision Making Glossary

What is an acronym?

• An abbreviation formed from the initial letters of other words and pronounced as a word, such as NASA.

• An abbreviation formed from the initial letters of other words and pronounced as individual letters, such as IRD.

• A phrase using the same initial letter in multiple words to create a sound effect.

• A nickname.

What is an apprenticeship?

• To be employed as your main job.

• To study a trade.

• To be employed while learning a new skill trade from an employer.

• To study at university.

What does consumption mean?

• Having resources left over.

• Using up a resource.

• To buy something.

• To sell something.

What is a financial windfall?

• You inherit something from a relative.

• You save a lot of money.

• You give a large sum of money to someone.

• An unexpected profit or gain of a large sum of money.

What is a goal?

• Something that you aim for, or a desired result.

• Something your friend wants from you

• Something you give to someone else.

• Something your parents give you.

What does it mean to have an impact?

• The effect or influence of something.

• To give something away to someone.

• To get something from a relative who has recently died.

• To learn a new trade or skill.

What does "incorporated" mean?

• To exclude or be excluded from the whole.

• To include or be included as part of a whole.

• To gather together in a group of friends.

• To stay alone and not become part of the group.

What does inherit mean?

• Receive something from a relative who has recently died.

• To lend something to your sister or brother.

• To give something away to a close relative.

• To borrow something from your sister or brother.

What are priorities?

• To do/see things in order of their importance.

• Complete tasks in order of quickest to longest.

• Ignore the homework that is due tomorrow to work on the assignment that is due in two weeks.

• The official completion of a course.

What is a qualification?

• A pass of an examination or an official completion of a course.

• A signed piece of paper.

• A certificate.

• A list of all your grades.