U1-Take Charge of Financial Well Being

Question 1

feeling good about your life

Answer 1

well- being

Question 2

specific objectives that are accomplished through financial planning

Answer 2

Financial goals

Question 3

managing money continuously through life in order to reach your financial goals

Answer 3

Financial planning

Question 4

managing money in ways that build a sense of understanding, competence, and control

Answer 4

Financial well-being

Question 5

good or services that are required for survival

Answer 5

needs

Question 6

value of the next best alternative that must be forgone as a result of a decision

Answer 6

opportunity cost

Question 7

giving up one thing for another

Answer 7

trade-off

Question 8

fundamental belief or practice about what is desirable, worthwhile and important to an individual

Answer 8

value

Question 9

desire for goods and services that can increase our quality of life but are not absolutely necessary for our survival

Answer 9

wants

Question 10

something a person intends to acquire, achieve or accomplish in the future

Answer 10

goal

Question 11

goal that will be attained in more than one year

Answer 11

long term goal

Question 12

goal that will be attained in less than one year

Answer 12

short term goal