Test Flashcards
Occupations in financial industry
Accountant
Actuary
Business teacher
Commercial real estate agent
SMART Goals
S- Smart (be very specific)
M-Measurable (have the date when this goal should be attained by)
A-Attainable (be realistic)
R-Relevant (make sure the goal consistent with your other goals)
T-Time (create a time frame when you want the entire goal to be done)
Peer Pressure
Being pressured by friends
“Keeping up with the Jonesses”
Is a reference for those who have a hard time keeping up with others
Opportunity cost
The next best alternative given up when you make a decision
Carrying cost of debt
The interest charges that you can pay on debits that you carry on a credit card over time
Medium of exchange
Prices can be set in terms of money for goods and services and then money can be used to exchange to receive a good or service
Financial planning
Setting goals for things you hope to achieve and acquire over time and making a plan for how to achieve those goals
“Luck of the draw”
Each of us are born into our own individual set of circumstances
The life cycle
Depending what part of you’re life your in, you’re values/morals change as you age
The economy
Conditions in the economy can affect financial decisions and affairs
Social factors
Changes in our society can affect our living conditions,tastes,preferences and goals
Political factors
We live in a society in which governments often play a significant role
Technological change
Is occurring at a extremely rapid pace
Language and communications skills
Handling money and financial matters require a great deal of decision making
