Becoming Money $mart: Shaheed Allen

A set of goals or objectives for spending and saving your money.

• Wants

• Financial plan

• Simple interest

• Compound interest

Measurable objectives related to acquiring or spending money.

• Rule of 72

• Interest

• Liabilities

• Financial goals

Those things we must have to survive, such as food, water, shelter, and clothing.

• Needs

• Values

• Wants

• Assets

Things we desire but are not necessary to our survival.

• needs

• interest

• wants

• entertainment

Your beliefs about ideas and principles that are important to you.

• Rule of 72

• Values

• Liabilities

• Interest

A plentiful supply of money or valuable goods; a wealthy person may be called prosperous or affluent.

• Net worth

• Growth

• Needs

• Wealth

The difference between what you own and what you owe.

• Assets

• Net worth

• Compound interest

• Financial independence

Things you own.

• Assets

• Net worth

• Values

• Wants

Debts you owe.

• Rule of 72

• Principal

• Wants

• Liabilities

Buying a financial product or asset in an effort to increase your wealth over time.

• Simple interest

• Investing

• Interest

• Assets