Final Review

________ is the process of arranging to spend, save, and invest money to live comfortably, have financial security, and achieve goals.

• values

• morals

• economics

• personal financial planning

Getting a college education, buying a car, and starting a business are examples of _____.

• short-term goals

• long-term goals

What is the first step in developing a personal financial plan?

• Assessing your current financial situation

• Investing in stocks

• Setting financial goals

• Creating a budget

Your financial goals should be:

• Not clear

• SMART (Specific, Measurable, Achievable, Relevant, Time-bound)

• Unrealistic and unattainable
• Vague and general

________ are purchases you make often and use up quickly.

• Durable goods

• Consumable goods

A ______ is a person who purchases and uses goods or services

• creditor

• company

• consumer

• producer

_____ is the study of the decisions that go into making, distributing, and using goods and services.

• Personal Financial Planning

• Economics

• Liquidity

Most successful people ____________.

• work well with others

• complain about their jobs.

• only do the bare minimum.

• change jobs frequently.

An _______is a position in which a person receives training by working with people who are experienced in a particular field.

• job

• career

• internship

• college

If you buy part of a company, this is called a:

• Share

• Dividend

• Patent