Emphasis Guide 1: making decisions


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