Financial Lifecycle Flashcards

1
Q

Needs

A

Items we cannot do without in order to survive

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2
Q

Wants

A

Items we would like to have but are not essential

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3
Q

Childhood Age

A

0-12

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4
Q

Teen/Young Adult Age

A

13-20

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5
Q

Starting Career Age

A

20-30

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6
Q

Setting Up A Home Age

A

25-35

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7
Q

Growing Career and Family Age

A

30-65

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8
Q

Retirement Age

A

65+

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9
Q

Childhood Income

A

Pocket Money

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10
Q

Childhood Expenditure

A

Minimal - Toys/Sweets

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11
Q

Teen/Young Adult Income

A

Pocket money

Part time job

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12
Q

Teen/Young Adult Expenditure

A

Clothes, Socialising

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13
Q

Start Career Income

A

Wages

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14
Q

Start Career Expenditure

A

Car, Rent

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15
Q

Set Up A Home Income

A

Wages

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16
Q

Setting Up A Home Expenditure

A

Household goods, utility bills

17
Q

Grow Career/Family Income

A

Child Benefit, Wages

18
Q

Grow Career/Family Expenditure

A

Children Education, Family Car

19
Q

Retirement Income

A

Pension

20
Q

Retirement Expenditure

A

Travel, Leisure