budget
monthly estimate of income and expenses
decision making
process of making a choice between two or more alternatives
emergency fund
3-6 months of salary set aside as savings
financial management process
step 1: awareness and financial goalsstep 2: creating and activating financial plansstep 3: evaluating and revising plans; moving forward
financial planner
takes a person or family's total financial picture, helps them to define or prioritize goals, and works out a plan to achieve those goals
non-traditional banking services
various things such as online banking, depositing checks through images on mobile app, 24/7 access to bank accounts, etc.
personal finance
umbrella term that covers the spending, saving, investing, and protecting of financial resources
stages of financial goals
stage 1: determine time frame of goals; short-term, intermediate, or long-termstage 2: goal examples; retirement, college funds; etc.stage 3: estimated cost of goalsstage 4: prioritization of goals