Financial Vocabulary Worksheet

The income received by property owners in the form of rent is called _________.

• rental income

• interest

• wages

• profit

The time worked beyond the regular hours; usually more than 40 hours in a five-day period is called _________.

• overtime

• break time

• holiday

• leave

Unexpected financial gain is called a _________

• windfall

• downfall

• shortfall

• pitfall

The cost of the next best alternative use of money, time, or resources when one choice is made rather than another is called _________

• opportunity cost

• sunk cost

• fixed cost

• marginal cost

Goals that are specific, measurable, attainable, realistic, and timely are called _________.

• SMART goals

• VAGUE goals

• IMPOSSIBLE goals

• SHORT-TERM goals

A process used to achieve financial success based upon the development and implementation of financial goals and planning is called _________.

• financial planning

• budgeting

• investment banking

• tax evasion

Things that are required in order to live are called _________.

• needs

• wants

• games

• toys

Things that add comfort and pleasure to your life are called _________.

• wants

• needs

• necessities

• duties

Reality, responsibility, restraint are known as the 3 Rs of _________

• budgeting

• marketing

• planning

• negotiation

A goal that you can reach in a short period of time is called a _________.

• short-term goal

• long-term goal

• lifetime achievement

• impossible dream