Attainable
step-by-step plan outlining exactly how the goal can be reached. Saving $150.00 and not telling how you will get it.
Being Healthy/ Medical Issues
physical well-being
Emotional Well-Being
your feelings, happy, sad, scared, stressed
Financial Goals
Specific objectives that are accomplished through financial planning
Financial Planning
Managing money continuously through life in order to reach your financial goal. A never ending process, it is an on going process
Financial Well-Being
Managing money in ways that build a sense of understanding, competence, and control
Goal
Something a person intends to acquire, achieve, or accomplish in the future. Writing down your goals will help you accomplish them.
Goal attained in one year
short term goal
Goods or services for survival
needs
Intellectual Well Being
School, education, knowledge, Cultural experiences, Lifelong Learning. Challenging yourself by taking on a new project at work.
Investment Increases
Investment increases risk and reduces your ability to cope with risk and uncertainty is not considered to be true.
Long -Term Goal
A goal that can be attained in more than one year. Saving money, for five years to make a down payment on a home.
Need
Good or service that are required for survival. Buying appropriate clothing to look professional
Opportunity Cost
The value of the next best alternative that must be forgone as a result of a decision. Finding two cars that meet your needs, deciding which one to buy.
Physical Well-Being
Your body being healthy, medical issues
Realistic
Think through the trade-offs and opportunity cost to analyze the consequences of your goal to make sure it is attainable
Short-Term Goal
A goal that will be attained in less than one year. Saving your allowance for six months to by a MP3 player.
Social Well-Being
Sense of belonging
Specific
State exactly what is to be done with he money involved
Time- Bound
Specifically state when the goal will be reached
Trade- Off
Giving up one thing for another. Money, you saved for tires you spend on a prom dress.
Value
Fundamental belief or practice about what is desirable, worthwhile, and important to an individual. Everything is influenced by values. The least influence would be your grade average.
Want
Desire for goods and services that can increase our quality of life but are not absolutely necessary for our survival
Well- being
Feeling good about ones life. Activity that makes you lose track of time.
Measurable
write the exact amount