WorksheetsPersonal Finance Vocab
Total questions: 20
Worksheet time: 15mins
What are specific objectives to be accomplished through financial planning?
Financial Planning
Financial goals
Goals
Financier
What is a plan for continuously managing money so that a person will meet short-term and long-term financial goals?
Financier
Financial planning
Financial Goals
Money Plan
What is managing money in ways that build a sense of competence, understanding, and control?
Financial well-being
Financing
Future Planning
Money Management
What is self-perceived happiness or satisfaction with life?
Happiness
Self Satisfaction
Life Goals
Well-being
What are goods or services that are required for survival?
Needs
Survival
Wants
Necessary
What is the value of the next best alternative that must be forgone as a result of a decision?
Opportune Cost
Alternative Cost
Choice Cost
Opportunity Cost
What is it called when you give up one thing for another?
Loss
Compromise
Trade-off
Trade
What is a fundamental belief or practice about what is desirable, worthwhile, and important to an individual?
Belief
Value
Desire
Worth
What is the desire for goods and services that can increase our quality of life but are not absolutely necessary for our survival?
Desirable
Want
Need
Survival
What is something a person intends to acquire, achieve, or accomplish in the future
Accomplish
Want
Goal
Desire
What are goals that will be attained in more than one year?
Short-term Goals
Accomplish
Goals
Long-term Goals
What are goals that will be attained in less than one year?
Need
Short-term Goals
Long-term Goals
Accomplish
What is a machine that allows people to complete certain transactions from the machine without human assistance?
Automated teller machine (ATM)
PVR
ATR
RCV
What is an account that allows quick access to funds for transactions?
Money Market Account
Certificate of Deposit
Saving Account
Checking Account
What is a for-profit depository business that offers financial services to both consumers and other businesses?
National Bank
Nonprofit Bank
Commercial Bank
Federal Reserve
What are payment transactions that can be completed with no physical connection between the payment device and the physical point of sale (POS) terminal or store clerk?
Contactless Payment
Card Payment
Cash Payment
Contact Payment
What are depository institutions that offer many banking services and are owned by their customers?
Federal Bank
Insurance
Bank
Credit Union
What is a plastic card that is electronically connected to the cardholder’s depository institution account?
ID
Checking Account
Debit Card
Credit Card
What is a businesses that provide financial services?
Credit Union
Depository Institution
Bank
Commercial Bank
What is the price paid for using someone else’s money?
Addition
Money
Compound Interest
Interest
