Vocab

What is a financial plan?

• a set of goals for acquiring, saving, and spending money.
  

• want

• need

• money

What is a financial goal?

• want

• shooting for the stars

• are measurable objectives related to acquiring or spending money.
  

• making it big in life

What are your needs?

• your expontintial rate

• Needs are your needs

• their your wants

• Are those things a person must have to survive, such as food, water, shelter, and clothing.
  

what are wants

• needing a guitar

• are things a person desires but are not necessary for survival.

• a want is a want

• learning how to play basketball

what are values

• to old

• are your beliefs about ideas and principles that are important to you.

• wonder

• money back

what is investing

• 
  is putting money to a use that you hope will increase its value over time.

• Money Spread

• Number Five Gum

• Having so Much Money I'm Breaking the Bank

what is Financial independence

• money

• 
  is having enough money for your basic needs and modest wants without having to work.

• want

• social money

what is the average rate of return

• is the percentage that your savings or other investments earn over a period of time.

• 5

• 6

• 7

what is interest

• beetles

• you like something

• is a fee paid on borrowed money or money earned on deposits with a bank or other financial institution.
  

• something you want

what is compound interest

• wants

• is earning interest on the principal (amount invested) plus the interest you have already earned.

• needs

• monthly pay