WorksheetsValues, Needs and Wants
Total questions: 23
Worksheet time: 9mins
Belief or practice of what is important, desirable and worthwhile to an individual.
Need
Well-being
Value
Want
Something that is
unnecessary to life, but desired.
Need
Well-being
Value
Want
An item that is necessary for life
Need
Well-being
Value
Want
Which option is a Need?
Car
Hot Tub
Nike Sneakers
Ipod
What is an example of Wants
Cell Phone
Water
Food
Shelter
Guides individuals to think through all components of making a good decision for a major decision
major decisions
decision‐making process
routine decisions
well‐being
Have long‐term effects on a person’s life. They should be made very carefully and with a lot of thought.
major decisions
decision‐making process
routine decisions
well‐being
Impacts an individual’s or family’s well‐being
major decisions
decision‐making process
routine decisions
decision
The state of being happy, healthy and prosperous
major decisions
Well-being
routine decisions
decision
Made on a daily basis and don’t require a lot of time to think through
major decisions
Well-being
routine decisions
decision
determine all the choices you have
Identify the Problem
Identify Alternatives
Decide
Evaluate the Results
know the problem or question before searching for an answer
Identify the Problem
Identify Alternatives
Decide
Evaluate the Results
make the best choice after thinking about all of the consequences.
Identify the Problem
Identify Alternatives
Decide
Evaluate the Results
this will help in making better decisions in the future.
Identify the Problem
Identify Alternatives
Decide
Evaluate the Results
What is an example of a Major Decision?
What to wear in the morning
Saving for a family vacation
What to pack for lunch
Where to sit on the school bus
Specific objectives to be accomplished through financial planning.
short‐term goal
goal
education goals
financial goals
The end result of something a person intends to acquire, achieve, do, reach or accomplish.
short‐term goal
goal
education goals
Financial goals
Achieve in a time period of less than one year.
short‐term goal
goal
Values
education goals
Achieve in a time period of more than one year.
short‐term goal
goal
Long-term goal
education goals
Help individuals prepare for success in the workplace.
short‐term goal
goal
Long-term goal
education goals
The following elements describe a SMART goal
Specific, Measurable, Attainable, Realistic, Time Bound
Short, Measurable, Action, Realistic, Time Bound
Specific, Monetary, Attainable, Recognize, Temporary
Short term, Mandatory, Attainable, Repetition, Timely
The loss of potential gain from other alternatives when one alternative is chosen
personal financial planning
opportunity cost
goals
demand
A balance achieved between two desirable but incompatible features; a compromise.
opportunity cost
trade-off
value
want
