explains how a person changes financial position, earnings, consumption and savings throughout the life cycle

(a)  

assist in planning financial situations throughout the year; acts as a control mechanism in regards to the way money is spent; assist in reorganizing finances to reduce debt or increase savings

(a)  

allow users to withdraw and deposit money at anytime, used for daily expenses; usually free

(a)  

earn interest over time, but have limited number of transfers and withdraws allowed

(a)  

similar to savings accounts but has higher interest rates, fixed terms and a fixed interest rate

(a)  

employer-sponsored benefit plans which provide individuals with the chance to put a portion of their earnings in a financial portfolio; contributions are exempt from income tax and can be rolled over into an IRA or future employer’s 401K plan

(a)  

allow individuals to open an account and begin saving funds toward retirement with tax benefits; can be traditional or Roth

(a)  

investment in publicly traded companies; provides ownership in a company; can be common or preferred

(a)