Fall Semester Exam-2024

Front

Objective to be attained in a specific amount of time.

Back

Goal

Front

Necessities a person must have to survive.

Back

Needs

Front

Process of setting financial goals and developing plans to reach them while meeting financial needs.

Back

Personal financial planning

Front

Things that a person desires but can live without are ___________.

Back

Wants

Front

An overview of an individual’s current financial position and strategies to meet future financial aspirations is referred to as ___________.

Back

A financial plan

Front

Set amount that you must pay each budget period.

Back

Fixed expense

Front

Cost that changes both in the amount and time it must be paid.

Back

Variable expense

Front

Plan for the use of money over time based on goals, expenses, and expected income.

Back

A financial plan

Front

Money that remains after a person has paid all his or her expenses is ____________.

Back

Discretionary income

Front

Financial trouble can be avoided by ___________.

Back

Living within your means, Keeping debt under control, Taking responsibility for your life.